UAW-American Axle Strike (week 4)--Chief's pay was increased to 10.2 million ('07)

http://www.detnews.com/apps/pbcs.dll/article?AID=/20080324/AUTO01/803240410/1148

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American Axle & Manufacturing Holdings Inc., the auto-parts supplier embroiled in a monthlong strike with U.S. factory employees, said it boosted total compensation of Chief Executive Officer Richard E. Dauch to $10.2 million last year, according to Bloomberg News.

The total, which includes salary, stock awards, option awards and change in pension value, rose from $9.3 million the previous year, the Detroit-based company said in a regulatory filing today, Bloomberg reported. Dauch's base salary rose 9.6 percent to $1.47 million. His stock awards and options went up, and he received no cash bonus after getting a $3.9 million award a year earlier.

Dauch, 65, benefited as American Axle posted a $37 million profit last year following a net loss of $222.5 million in 2006. The company's share price fell almost 2 percent in 2007.


About 3,650 United Auto Workers members at American Axle plants in Michigan and New York went on strike Feb. 26 over wage, health-care and pension issues. The walkout has shut or slowed production at 29 General Motors Corp. factories in North America, and caused layoffs and slowdowns at suppliers that provide GM parts. GM is American Axle's former parent.
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