The uproar over what GM's paying its new CEO should be about more than equal pay for women at the top of the corporate ladder.When General Motors named Mary Barra the company’s new CEO in December, the announcement made instant headlines. No woman had ever steered a major global automaker .
But the hurrahs for GM’s historic hire turned into hoots of derision when a company filing revealed its new chief executive’s pay.
The veteran auto industry executive is making $4.4 million this year. That tidy sum amounts to about half the total pay Barra’s CEO predecessor took home. General Motors, critics charge, is underpaying its first woman chief exec.
These charges quickly shoved GM into damage-control mode. The company’s first response: a statement designed to “dispel any notion of pay inequity.”
The $4.4 million 2014 pay figure for Mary Barra, the automaker pronounced, didn’t include her long-term incentives.