UPDATE 1-GMAC CEO awarded $11.62 mln compensation in 2008

Newswire

NEW YORK, Feb 27 (Reuters) - GMAC LLC on Friday said Chief Executive Alvaro de Molina was awarded $11.62 million of compensation in 2008, more than twice as much as a year earlier, when he engineered debt restructurings and capital raising to keep the struggling finance company in business. De Molina was awarded a $1.2 million salary, $5.81 million of stock awards and $4.8 million of other compensation, offset by option awards of negative $194,000, reflecting the application of an ...

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