Ford Pays Nasser $4.9 Million in 2001

Jacques Nasser, ousted Ford Motor Co. president and chief executive, was paid $4.9 million for 2001 even though he retired under pressure in October, according to a proxy statement.

Nasser’s pay included $1.75million in salary and nearly $3.1 million in other compensation. He also received options to buy 1.375 million shares of common stock that Ford valued at $12.9 million when granted.

Nasser is receiving an annual pension of $1.6million to $1.7million based on his 34 years with the company, a Ford spokesman said.

In 2000, Nasser made about $12 million, including a $7.7-million bonus. No executive bonuses were paid in 2001. Nasser was forced to resign Oct. 29 amid eroding sales, questions about vehicle quality and the ongoing Firestone tire crisis.

Ford shares fell 8 cents to $15.03 on the NYSE.