General Motors, which significantly improved its financial performance in 2006 but did not make a profit, will not pay cash bonuses to top executives for the second consecutive year, the New York Times reported.
GM spokeswoman Renee Rashid-Merem told the newspaper that the decision affected about 20 people, including CEO Rick Wagoner and Vice Chairman Robert Lutz.
Full details on executives' compensation will be released next month when the company files its annual proxy statement, the newspaper said.
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: email@example.com.
Anytime and anywhere to know the dynamics of China's auto industry