Marchionne, now 57 years old, achieved the figure by receiving additional payments over his 3.05 million euro salary. According to the official papers, last year he received a 1.35 million euro bonus and extra fees worth 387,400 euro. Marchionne’s salary reached 3.4 million euros in 2008.
Besides Fiat, Marchionne is also responsible for Chrysler, as the Italian carmaker acquired a 20 percent stake in the American company during the latter’s bankruptcy emerging in June 2009. In December, the U.S. Treasury approved $600,000 in stock payments for Marchionne’s work at Chrysler. The shares have to be kept for at least three years before they can be sold - actually it has to be kept until obligations to the Troubled Assets Relief Program will have been fulfilled.
Fiat expects to reach the break-even point during the current year and even expects a trading profit of 1.1 billion euros to 1.2 billion euros subsequent to the Italian authorities’ decision to end the scrappage schemes that boosted sales until now. In addition to that, the CEO said that he expects Chrysler to become profitable sometime during the next year. Marchionne has released a plan for Chrysler revival. This states that one of the key assets for the U.S. carmakers's economic comeback is a complete revision of its medium sedan line-up, as these have become unattractive for buyers in the recent years.
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