Fiat Chrysler Automobiles NV (FCA) CEO Mike Manley received compensation of 13.28 million euros ($14.45 million) for last year, in line with a target set by the company, the automaker stated in a filing on Tuesday.
Compensation for Manley, who has been a CEO of FCA since July 2018 after the death of his predecessor Sergio Marchionne, included a base salary of 1.43 million euros for 2019, a bonus of 1.2 million euros and long-term incentives totaling 8.8 million euros, the regulatory filing showed.
In 2019, the automaker set a compensation target for Manley of $14 million.
Fiat Chrysler and PSA agreed in December to combine forces in a $50 billion deal to formed the world’s No. 4 automaker, in response to declining global demand and increasing costs of making cleaner cars amid tighter emissions rules. The companies have not stated what position Manley might hold in the newly combined automaker.
Manley stated in January that discussions with PSA were progressing well and he hoped to finish the deal by early 2021.
FCA Chairman John Elkann got a base salary of 893,000 euros and long-term compensation amounting 2.28 million euros, as part of total compensation of 3.85 million euros, the filing stated.