Ford's new CEO Mark Fields is getting a pay raise with his new title.
The former chief operating officer officially became top dog on Tuesday, raking in a $1.75 million base salary, according to a regulatory filing. That's up 14% from what he was making as COO.
His predecessor Alan Mulally earned a base salary of$2 million during his last year at the company.
Ford also granted Fields a performance-tied bonus that could be worth $3.5 million, and 710,227 stock options, according to the filing. He could receive additional bonuses and compensation, but his total pay for 2014 won't be reported until next year.
In 2013, Fields' total compensation was $10.2 million. Mulally's total compensation was more than twice that: $23.2 million.