GM CEO takes 25 pct pay cut to support turnaround

Newswire

DETROIT, April 27 (Reuters) - General Motors Corp Chief Executive Rick Wagoner has voluntarily cut a quarter of his base salary to support the automaker's turnaround plans, GM said in a filing on Friday. As of March 1, 2007, Wagoner's base salary was $1.65 million, down from $2.2 million in January 2006, GM said in a filing with the Securities and Exchange Commission. GM's Chief Financial Officer Fritz Henderson and product chief Bob Lutz also took pay cuts of 15 percent each, bringing ...

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