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DETROIT - The new chief financial officer at General Motors Co. will receive a salary of $750,000 next year, but he'll get up to another $5.45 million worth of stock starting in 2012 if GM successfully sells shares to the public.
Chris Liddell's pay package exceeds the limits imposed on companies that have received U.S. government aid, but an exemption was worked out with the government pay czar Kenneth Feinberg, GM said in a government filing Wednesday.
lol wow. Who knew?
Liddell's compensation package will exceed that at Microsoft Corp. when accounting for his stock awards. His pay package at the software giant was about $2.4 million.
Liddell, 51, will leave his job as Microsoft Corp.'s CFO on Dec. 31 and join GM next year. He is seen as a possible candidate for GM's next CEO.
(Msnbc.com is a joint venture of Microsoft and NBC Universal.)