Ousted Ford CEO was paid $23 million

Wednesday, April 10, 2002 | 9:46 a.m.

DEARBORN, Mich. -- Jacques A. Nasser, the ousted chief executive of Ford Motor Co., received a compensation package worth $23 million as part of his 2001 pay and retirement.

The company, meanwhile, lost $5.5 billion last year, its worst performance since 1992.

Nasser received $1.75 million in base pay and no bonus. In 2000, he received $1.63 million in base pay and a $7.7 million bonus.

Nasser also received $3.1 million in compensation from long-term incentive deals last year. He received options to buy about 1.4 million shares that the company valued at $12.9 million on the date granted and other consideration valuing the total package at $23 million.

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