Home / Business and Economy / GM Recruits Top Product Chief with $40 Million Pay Package
GM Recruits Top Product Chief with $40 Million Pay Package
21 Apr
Summary
- Sterling Anderson received a pay package potentially reaching $40 million.
- Anderson was hired from Aurora to lead product development at GM.
- He is considered a potential successor to CEO Mary Barra.
General Motors recruited product chief Sterling Anderson last year with a compensation package totaling as much as $40 million. Anderson joined GM from Aurora, where he was a co-founder and chief product officer. At GM, he is responsible for critical areas such as new electric and gasoline vehicle development, alongside software.
The automaker structured Anderson's pay to secure him from his previous influential leadership position and significant equity interest. He received $16 million last year, with the potential to earn an additional $24 million over 2027, contingent on continued employment and performance targets.
Industry observers consider Anderson a strong contender to potentially succeed current CEO Mary Barra, who has led the company since early 2014. A GM spokesperson noted that management succession planning is reviewed routinely by the board.
