GM Discloses Smith’s Salary: General Motors Corp....

GM Discloses Smith’s Salary: General Motors Corp. Chairman Roger B. Smith received about $3.6 million in salary and benefits last year. In its annual proxy statement, the nation’s largest auto maker said Smith received $983,000 in salary, exercised $1 million in stock options and had $68,833 contributed by the company to a savings and stock purchase plan. Smith also received $1.5 million in stock, which could be held or liquidated during the following three years. The proxy statement said that in addition, Smith was paid $1 million early this year for the company’s performance during the five previous years. Ford Chairman Donald Petersen, received $10.5 million in 1988 compensation, most of it coming in stock options. Chrysler said its chairman, Lee Iacocca, was awarded $3.7 million and future stock options.