GM CEO Received $12.8 Million in 2003

DETROIT April 21, 2004; The AP reported that General Motors Corp. chairman and chief executive Rick Wagoner received $12.8 million in compensation last year, including stock options, as the company reinstated cash bonuses for all its top executives.

The world's largest automaker raised Wagoner's salary 10 percent to $2.2 million and awarded him a $2.9 million bonus, GM said in a proxy statement filed Wednesday with the U.S. Securities and Exchange Commission. He also received 500,000 stock options, currently valued at $4.3 million, plus $3.3 million in long-term incentives.

Chief financial officer John Devine and vice chairman Bob Lutz each earned $6.5 million in cash compensation, plus 200,000 stock options, currently worth $1.7 million.

General Motors Corp.: http://www.gm.com