2Healthy Ford pays back its chairman Bill Ford Jr. collects $ 16M in salary and stock options earned over past two years By Alisa Priddle The Detroit News Ford Motor Co. , in another sign of its financial comeback , is writing Executive Chairman Bill Ford Jr. a big paycheck to make up for some of the five years he declined to take a salary .
3The automaker announced Friday that Bill Ford will get $ 4.2 million in salary and stock options of about $ 11.6 million .
4That 's what he would have gotten , had he been paid from 2008 until now -- minus a 30 percent pay cut that the company 's top executives agreed to swallow for 2009 and 2010 .
5`` Executives are there to contribute and be rewarded in an appropriate manner , '' said auto industry researcher Rebecca Lindland of IHS Automotive in Lexington , Mass. `` This shows Ford is back on track and being run the way a company should be in a capital market .
6`` It 's a return to normalcy . ''
7Despite the big payday for Bill Ford , it could still be some time before the automaker is convinced its financial footing is firm enough to resume paying dividends to its stockholders .
8Dividends were cancel ed in 2006 .
9Bill Ford sold $ 28 million of his shares Friday ; some will go toward repaying loans he took out in the dark days of 2004 and 2005 to buy $ 14 million in Ford stock , as a show of faith in the company .
10Since then , crosstown rivals General Motors and Chrysler declared bankruptcy , received government bailouts , shed debt and regrouped as new companies .
11Ford , however , won public favor for declining government assistance .
12Buyers have embraced its vehicles , which continue to improve in quality .
13`` Even during the difficult times for our company and the industry , I never doubted that our efforts at Ford would be successful , '' Bill Ford said in a note to employees obtained by The Detroit News .
14`` I continued to invest in our company 's future by purchasing Ford stock , at times , taking out personal loans to do so . ''
15Ford 's success , he said , `` is my life 's work , and I am fully confident we are on track for sustained profitable growth through our commitment to building great products , a strong business and a better world . ''