By John D. Stoll
General Motors Co. on Monday said Chief Executive Mary Barra's total 2016 compensation equaled $22.6 million, a decline of 21% compared with 2015 when she was awarded a sizable retention package.
Ms. Barra, in her fourth year at GM's helm, earned $2 million in salary last year, representing a 14% raise. She was named chairman of GM in 2016.
GM's first female CEO, Ms. Barra has been serving as an economic adviser to U.S. President Donald Trump. Her compensation was detailed in GM's annual proxy statement.
In the proxy, GM urged shareholders to reject a proposal by investor David Einhorn.
Mr. Einhorn, founder of hedge fund Greenlight Capital Inc., is pressing GM to create two classes of common stock that would separate its dividend from its operations, a novel proposal designed to invigorate a stock that has languished despite rising sales and profits.
GM's management already has said it doesn't support the proposal. Mr. Einhorn is expected to nominate directors for GM at a coming annual meeting.
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