Ford CEO Earns $27.5 Million Despite Record Recalls and Massive Losses

Ford Motor Company CEO Jim Farley received total compensation of $27.52 million in 2024—the highest since he assumed the role—primarily due to the company exceeding key initial targets related to vehicle quality, service revenue, and electric vehicle sales. Despite Ford reporting an annual loss of $8.2 billion and setting an industry record for vehicle recalls, the company emphasized that its initial vehicle quality metrics reached one of the best levels in its history, with the majority of recalls involving models developed under previous management. Farley’s base salary remained unchanged at $1.7 million, while his non-equity incentive bonus surged by 255% as the company achieved 130% of its overall performance goals. His total compensation amounts to 295 times the median employee pay of $93,397. Compensation for other executives was also adjusted, with Executive Chairman Bill Ford seeing a slight decrease to $20.3 million.