Business & Tech
What Michigan CEO Earned More Than $54 Million in 2012?
An analysis shows chief executives at Michigan's publicly traded companies earned 171 times more than the average worker and 455 times more than full-time minimum-wage workers.
The average chief executive at a publicly traded Michigan earns more than $7 million annually – 171 times the $40,898 salary paid earned by the average worker in the state, and 455 times more than the average $15,392 salary paid to full-time minimum-wage workers, the AFL-CIO’s 2014 Executive PayWatch shows.
The analysis tracks the most recent salaries available for S&P 500 Index companies.
Nationally, the highest paid chief executives were Lawrence J. Ellison of Oracle Corp. and Elon Musk of Telsa Motors Inc., who were paid $78,440,657 and $78,150,010, respectively.
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Topping the Michigan list was Southfield-based Credit Acceptance Corp. CEO Brett A Roberts. The company, which brokers care financing to auto dealerships throughout the United States,had $253 million in net income on $682 MIllion in revenues in its 2013 full year.
Here are the top 20 salaries in Michigan’s publicly traded companies:
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- Brett A. Roberts, Credit Acceptance Corp., Southfield: $54,282,500 (2012)
- John C. Plant, TRW Automotive Holdings Corp., Livonia, $24,466,286 (2013)
- Alan Mulally, Ford Motor Co., Dearborn, $23,204,534 (2013)
- Andrew N. Liveris, Dow Chemical, Midland, $20,452,877 (2013)
- Jose Maria Alapont, Federal-Mogul Corp., Southfield, $18,988,692 (2012)
- Timothy D. Leuliette, Visteon Corp., Van Buren Township, $17,046,075 (2012)
- Jeff M. Fettig, Whirlpool Corp., Benton Harbor, $14,705,805 (2013)
- Ronald J. Dugas Jr., Pultegroup Inc., Bloomfield Hills, $13,928,859 (2013)
- Daniel F. Akerson, General Motors Co., Detroit, $11,102,808 (2012)
- Matthew J. Simoncini, Lear Corp., Southfield, $10,802,368 (2013)
- J. Patrick Doyle, Domino’s Pizza, Ann Arbor $9.548,617 (2013)
- Timothy Wadhams, Masco Corp., Taylor, $9,218,460 (2013)
- Gerald M. Anderson, DTE Energy, Detroit, $9,147,821 (2013)
- Joseph L. Welch, ITC Holdings Corp., Novi, $8,798,195 (2013)
- Kevin A. Lobo, Stryker Corp., Kalamazoo, $8,436,919 (2013)
- John G. Russell, CMS Energy Corp., Jackson, $8,274,111 (2012)
- James R. Verrier, Borgwarner Inc., Auburn Hills, $8,146,556 (2013)
- Blake W. Krueger, Wolverine World Wide, Rockford, $8,037,287 (2013)
- John Bryant, Kellogg Inc., Battle Creek, $7,963,872 (2013)
- David C. Dauch, American Axle & Mfg. Holdings, Detroit, $6,330,397 (2013)
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