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Ford president and CEO Mark Fields speaks near the logo of shuttle van startup Chariot, during the North American International Auto Show in Detroit, Michigan, U.S., January 9, 2017.

Ford CEO Mark Fields’ compensation rose 8 percent in 2016

Executive Chairman Bill Ford, 59, received a salary, bonus and stock awards totaling $11.1 million in 2016, up 10 percent from 2015.

By Nick Carey | DETROIT – Ford Motor Co F  ( ) Chief Executive Officer Mark Fields’ salary, bonus and stock awards rose 8 percent to a total of $18.8 million in 2016, while pretax profit for the automaker fell slightly from 2015’s record high, it said on Friday.

Including pensions and perks, Fields made $22.1 million, up nearly 19 percent from $18.6 million. His pension award was nearly $2 million higher in 2016 than in the previous year.

Fields, 56, became CEO in the summer of 2014.

The company earned a pretax profit of $10.4 billion in 2016, down slightly from $10.8 billion in 2015.

Last week, the automaker said it expected lower earnings per share in the first quarter and a drop in pretax profit in 2017 to $9 billion due to increased spending on commodities, warranties and investments and a drop in sales volume.

Executive Chairman Bill Ford, 59, received a salary, bonus and stock awards totaling $11.1 million in 2016, up 10 percent from 2015. His pension award rose about 5 percent to $1.45 million.

The company said the bigger pension awards resulted from two factors outside its control: fluctuating interest rates and changes to government-issued mortality tables.

(Reporting by Nick Carey; Editing by Chizu Nomiyama and Lisa Von Ahn)

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