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| Bill Ford Jr. beside a Model T his grandfather built. (Photo: Ford Motor) |
Bill Ford Jr. received options on some of the 4.4 million shares in the company as well as long-term incentives. Currently, these options have no dollar value, but they are valid until 2012. Ford Jr. also received a handsome chunk of change, $318,931 ($219,953 USD) from his great grandfather who founded the company over 100 years ago. Along with the compensation, he has access to the company aircraft, added Reuters.
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| Think was one of the bungled investments Ford took on during its Jacques Nasser days. (Photo: Ford Motor) |
But the buck does not stop there. Ford also released information regarding an additional 4 million shares to be given to Bill Ford Jr.; each valued at $14.24 ($9.82 USD). This rate is currently just under Ford's current share price.
Reuters reported that Bill Ford Jr. also gave up his salary in 2001 after ousting former CEO Jacques Nasser, due to the Australian leading Ford into a $7.9 billion ($5.45 billion USD) loss for that same year.
The first quarter of this year has been prosperous, reported Ford. The surprisingly strong operating profit is largely due to stable prices and cost cutting.