Chief executive officers of large automotive manufacturers have pretty stressful jobs. Love or hate their cars, motoring bosses manage thousands of employees and oversee scores of vehicle development programmes. But they are also compensated handsomely for their efforts.
As reported by Japanese motoring publication Best Car Web, Akio Toyoda takes home 685 million yen (AUD$7.2 million) per year, which seems relatively modest when the company made total sales of AUD$329 billion in the year up to March 2022. The outlet’s source was Toyota’s recent financial reporting.
Many will know Toyota as a car manufacturer, but the company does far more than just make passenger vehicles.
Akio Toyoda makes $7.2 million per year
Toyota has many different investments beyond motoring. It operates in segments such as robotics, commercial vehicles, forklifts, and steel manufacturing, and Toyota also holds stakes in other companies – including Subaru, Mazda, Suzuki, Panasonic, Yamaha and the Nagoya broadcasting/TV network.
VW and GM bosses make significantly more money
The Volkswagen Group is similar to Toyota in its size and scale of production, as well as with revenue, with the corporation bringing in AUD$366 million during 2021.
Toyota does a lot more than just producing new cars
Volkswagen Group controls several manufacturers including Audi, Porsche, Skoda, Cupra, SEAT, Scania, Bugatti and Lamborghini, as well as making its own cars under the Volkswagen name.
Volkswagen Group boss Herbert Diess earns an estimated A$15.4 million, but with that nice pay packet comes a busy and likely very stressful job, managing and overseeing 600,000 employees, 10 brands and 120 factories around the world.
The Volkswagen Group also gives a lot of money to its CEO
But General Motors’ (GM) chief executive officer Mary Barra makes USD$21.63 million(A$31 million) per year as total compensation, making her the highest paid CEO for an automaker.
Ford’s chief executive officer Jim Hackett does well, too, receiving a total salary package of USD$17.4 million (A$25 million) every year.
The controversial ex-Nissan chief Carlos Ghosn made $24 million back in 2018 before he became a wanted fugitive as a result of serious financial misconduct.
