I suspect that the BOD will only look at the numbers and be inclined to grant M Barra an increase in total compensation in 2019 ... the only thing that may hold them back is the "optics" of doing so. I really hope the BOD considers the unbelievably poor management planning to hire 6000+ new workers in the past few years ... and then discard many of them to balance some of the age bias in eliminating many of the older higher paid employees who have always "exceeded expectations" and gotten raises in the good years only to put larger targets on their backs for headcount and salary reductions. I hope the BOD also considers what a debacle this whole process has been and what it has cost the company in productivity for the last 3 months. Personally I think at least $20m of M Barra's compensation should be paid out where it could do the most good ... to the thousands of long term loyal GM employees and new hires who gave up many other opportunities to join GM ... just to be taken on perp walks when GM Sr. Leadership realized that it had failed at any assemblance of Human Resources Management or sound Corporate Strategy Planning..
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No executive is worth 250 times more than the average employee at the company they work for. Especially one who has presided over a compete failure of Human Resources Management and Corporate Planning over the past few years.
I think Wagner was awarded $1 in 2009 when the company went into bankrupt proceedings.
The Worst company that I worked for almost 3 years and wasted my time.
Yes- only it hasn't vested quite yet ;)
I think a bunch of moderately compensated managers with some experience in the auto industry and some first year MBA's could do a better job of HR staffing decisions and Corporate Strategy Planning than the current cast of Overpaid GM Executives. M Barra makes over 250 times as much as the average GM employee (and probably works more hours ... but maybe only 2 to 3 times as many). This is not right.
Who's being held accountable for rampant hiring ... and then draconian firings? M Barra, VP of HR? VP's of IT? Corp Strategy? BOD?
There was an article on Socrates right around the time when they started announcing all their female promotions, where they mentioned Mary needed a raise from her prior rate, because she wasn't being paid fairly as a female compared to her counterparts. I don't recall her last salary amount, only that it was an article that had to be provided to the masses to inform them of this. It couldn't be done internally somehow, nor could they forecast this oversight in their monumental "vision".
The timing seemed suspect. Not too long after, she was seen on every cover of ever news article worldwide, as a strong female CEO.
Almost seems too scripted.
That amount of money is absurd. Whether you take the company to new heights, or burn it to the ground, 20 million dollars allows you to retire for life. There's little incentive to actually work. Her time is dictated by the same number of hours in a week, and she can only delegate so much.
What makes more sense is to put someone in at a more reasonable rate, that would work for much less, but is still paid well. There would be no shortage of volunteers. Many people would line up for 200k-400k. The only shortage would be the list of so called "competitive" candidates that they feel should make 20 million.
Is she worth and should she receive 20 million? No more than you or I doing our lowly jobs, for $500,000-$1,000,000 per year.
Human Resources Management is a farce at GM. They often hire the best and brightest ... and then when a change of direction is "urgently needed" treat their own people like common criminals on perp walks. It is degrading not only to those being walked ... but also to those who are forced to witness it. Rather than spending 6 months salary to demean someone and make them go away ... if different skills are truly what the company needs wouldn't it make sense to spend that money retraining employees. Heck in some cases 6 months salary would cover a couple years at a major university. Then GM, GM'ers and even M Barra could hold their heads high - rather than low.
No she should not. That should have been one of the first reductions.
As a former VP of HR ... who did nothing to create a true Human Resources Management focus or culture at GM and the CE presiding over this debacle impacting thousands of families and starting GM on a Corporate Strategy downward spiral to the bottom, her $2m base salary is much more than she deserves!
Totally agree. They need to be held accountable for these decisions that have impacted so many lives. That is he frustrating part of this, they hired so many people the last few years and now are dumping a similar amount. This reflects very poorly on their ability to make decisions