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Ford Chief Exec Gets $28.2 Million Compensation For 2006

Ford Motor , which posted a loss of $12.7 billion last year, said Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.

Mulally, a former Boeing executive, replaced Ford family scion Bill Ford Jr. as chief executive last September.

Chairman Bill Ford, who was CEO for the first eight months of 2006, did not receive any cash salary, bonus, or stock awards for 2006 as he had made a commitment in 2005 to forgo any new remuneration until the auto unit made sustained profits.

However, the company took an expense of $9.95 million last year related to Bill Ford's previous stock and option awards.

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