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Corporate Governance

: The Race to the Bottom

General Motors CEO Rick Wagoner Removed By Obama Administration

By Joseph Aguilar

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The Wall Street Journal reported the Obama administration has forced the resignation of General Motors CEO Rick Wagoner. Wagoner served as CEO since 2000, but has been with the company for 31 years. Although he has overseen GM during some of the company's most turbulent times, GM's stock price has fallen from $70 per share at his appointment in 2000 to $2.88 earlier today. Below is a table detailing the compensation Wagoner has received over his time as CEO. GM has yet to file its proxy statement for 2008.

 

Year

Compensation

2000

$4,777,821

2001

$7,512,160

2002

$13,490,356

2003

$12,835,303

2004

$10,065,855

2005

$5,479,305

2006

$10,191,153

2007

$14,415,914

Total Compensation

$78,767,867

Full post as published by The Race to the Bottom on April 01, 2009 (boomark / email).

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