The Ford Motor Company, which reported losses of 12.7 billion dollars last year, has paid its new chief executive Alan R. Mulally 28 million dollars for his 4 months'work, The New York Times reported on Friday.

The report said Mulally's compensation included an 18.5 million dollar bonus that Ford disclosed in September when it hired him from Boeing.

Figures in Ford's annual proxy statement show that his pay was more than three times that of any other executive at the company. That includes the executive chairman, William Clay Ford Jr., who has kept a 2005 promise not to accept any new salary, bonus or stock awards until Ford consistently earns a profit.

The second-highest pay, 8.67 million dollars, was also for only a few months'work; it went to James J. Padilla, who retired as president and chief operating officer in July, said the report.

Source: Xinhua