Mary Barra, CEO of General Motors, attends the annual media conference by Allen and Co. Sun Valley media on 12 July 2019 in Sun Valley, Idaho, USA. Brendan McDermid IS THE REUTERS - Brendan McDermid
In 2020, the chief executive of General Motors Co, Mary Barra, received a compensation package worth $22.6 million, 4.6% more than the previous year, according to the U.S. automaker's proxy statement released on Friday.
Her base salary remained unchanged from 2019, while the stock awards and options were up 7% and performance awards 38%.
Barra said that GM's compensation was about 201 times the median salary paid for its employees.
GM shares price rose in 2020 more than 13%, ending the year at $41.84. His shares were valued at $56.84 on Thursday in midday trading and its market cap was more than $81 million
GM encountered a number of challenges last year, including plant closings that followed the spread of COVID-19.
The company has suspended its dividend a year ago and has not indicated if or when it will be reinstated.
A year ago, Barra announced that GM would boost its spending on electric and automated vehicles to more than $27 billion by 2025, with plans to launch 30 EVs worldwide in that time frame — including more than 20 in North America. She reiterated General's goal of selling more than 1 million EVs a year by 2025.
The Board of Directors is proposing a vote against two shareholder proposals, including one that would link executive compensation in part to greenhouse gas emissions targets.