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“Chrysler Group LLC CEO Sergio Marchionne received no compensation from the Auburn Hills automaker last year,” the Detroit News states. But Marchionne, who is also chairman and CEO of Chrysler parent Fiat SpA, did receive $4.5 million in management fees from the Italian car company. Chrysler is no longer bound by the restrictions on executive compensation imposed by the U.S. government as a condition of its bailout, because the Treasury Department sold its remaining equity in the company in 2011. Still, Chrysler has voluntarily agreed to continue abiding by those restrictions. A company statement read: “Our compensation philosophy continues to center on our commitment to maintain responsible compensation practices that will allow us to attract and retain capable and experienced professionals.”
Chrysler: Marchionne not paid in 2011
Chrysler Group CEO Sergio Marichionne was paid $4.5 million in management fees from Fiat SpA.
March 8, 2012