GM proposes to pay CEO $11.1 million in '13

danarhea said:

It's up to GM. If people don't like it, they can always buy a Ford instead.

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(Reuters) - General Motors Co (GM.N) denied on Tuesday media reports that the automaker asked U.S. officials to allow for a pay increase of more than 20 percent for Chief Executive Dan Akerson.

The largest U.S. automaker submitted a request to U.S. officials to pay Akerson $9 million for 2013, about the same as his 2012 and 2011 pay packages, GM said in a statement.

Compensation of GM executives is governed by a special paymaster from the U.S. government as part of provisions put in place after GM's U.S.-funded bankruptcy restructuring in 2009.

GM's statement came after reports that GM wanted to pay Akerson $11.1 million for 2013.

GM says did not request 2013 pay bump for CEO Akerson | Reuters

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