Ford CEO Jim Hackett earned $17.4 million in 2019

Ford Motor stated on Friday that CEO Jim Hackett’s total earning was $17.4 million in 2019. He earned from $17.1 million in 2018.

The ratio of CEO’s annual compensation to the median of the annual compensation of all workers was 157 to 1, Ford said.

Executive Chairman William Ford got a total salary of $16.8 million in last year, increasing from $13.8 million in 2018.

Government orders for social distancing and businesses to close plants because of the spread of the coronavirus pandemic has stalled demand throughout the auto industry and sent companies scrambling to cut expenses and beef up liquidity.

The automaker on Thursday posted a 12.5% decline in U.S. auto sales for the first quarter.

Before the spread of the coronavirus, Ford was continuously restructuring its worldwide operations, including the cuts in order to shift some of its production from traditional vehicles to electric vehicles.