When automakers release annual filings, included are often details regarding the various compensation packages for the executives and leadership positions. Reuters shared insights for Fiat Chrysler Automobiles, and we wanted to learn more about Fiat Chrysler Chief Executive Officer (CEO), Mike Manley. We dove in to review his career details, notable achievements, and of course, how much he makes.
The Fiat Chrysler CEO’s compensation package
When Fiat Chrysler Automobiles NV released the regulatory filing with the U.S. Securities and Exchange Commission, annual compensation for the Chief Executive Officer, Mike Manley, was included. Manley will earn around $14 million in salary, as well as cash and equity bonuses.
Manley earned $660,240 in 2018 plus a bonus of $367,000. FCA indicated the fair value per shares, granted as part of the package, was $16.61. Bonuses are linked to Manley’s ability to steer the company to certain performance objectives.
How the Fiat Chrysler CEO earned his role
Mike Manley stepped in at the helm of FCA in July of 2018. His successful predecessor, Sergio Marchionne, resigned abruptly due to health issues. In addition to Manley’s CEO title, he was also assigned as the Chief Operating Officer of the NAFTA region.
A career path that led to this executive title
Before becoming the CEO of Fiat Chrysler, Mike Manley held other leadership titles, including Head of Jeep brand, Head of Ram brand, and the COO for the APAC region. He also led the company initiatives internationally, implementing agreements for distribution network growth.
Manley also held Executive Vice President roles in International Sales and Global Product Planning operations. He first joined the DaimlerChrysler United Kingdom, Ltd. network as Director, in 2000.
His life before Fiat Chrysler
Mike Manley was born in Edenbridge, United Kingdom, in 1964. The now Fiat Chrysler CEO earned his Bachelor of Science degree in Engineering from Southbank University in London, England. He followed up with post-grad M.B.A. credentials from Ashridge Management College. Manley started early in automotive, by working at a car dealership in the U.K.
What Mike Manley is doing for FCA
Some say Mike Manley can be similar to his predecessor, Sergio Marchionne. Both leaders are known for their no-nonsense dedication to work ethic and high expectations for flawless performances from subordinates. Neither liked to wear ties either.
But, Manley is differentiating himself and making moves to position FCA for growth and revenue. Those who work with him currently and in years past, say he is a focused and driven leader. Manley is known for his innovative ideas, quick decision-making, and passion for success — with the metrics to back it up.
FCA is now the fourth largest automotive group, with the recent merger between FCA and Peugeot manufacturer, PSA Groupe. Together, annual sales are almost to the 9 million vehicle mark.
What’s new for the Fiat Chrysler CEO in 2020?
Announced last December in Brussels, Mike Manley will take over for Carlos Tavares, as President of the ACEA, the European Automobile Manufacturers’ Associates. Manley’s priorities include developing carbon-neutral solutions and economic sustainability across the European auto industry. Manley says the organization looks to transform mobility in a way that ‘puts the consumer first but enables us to remain globally resilient.’
When the rest of us see some of the compensation packages that executive-level leaders enjoy, it can seem excessive. But, having a closer look at Fiat Chrysler CEO Mike Manley’s list of responsibilities and mission, he may be worth every stock and bonus he earns.
Mike Manley has a full plate for sure, with both international and company initiatives. We look for big things from this executive who clearly works on a global scale.