New details are out about the composition and the compensation of the corporate boards running some of southeast Michigan’s dozen or so remaining publicly traded companies.
These highly lucrative positions can pay around $300,000 a year in cash and stock awards, involve a few hours a week of time commitment, and let you mingle with CEOs and businesspeople.
Securities and Exchange Commission filings show that some of the best-paid directors are on the Detroit-based General Motors board. Last year, 10 of the 12 nonemployee members on the board earned cash and stock award packages worth over $400,000 — and everyone also was offered a company vehicle.
The second-best pay packages were at Bloomfield Hills-based Penske Automotive Group, followed by Dearborn-based Ford Motor Co.
And one retired banking executive, Sandy Pierce, had the distinction of sitting on two corporate boards that pay well: that of Penske and Detroit-based Dauch Corp., formerly known as American Axle. She earned a combined $708,000 in cash, stock and “other” compensation from those two board seats last year, which included the value of a company vehicle with company-sponsored auto insurance.
GM said in a statement that it has an incredibly diverse and experienced board of directors, and that a more appropriate comparison group would be other “Fortune 50” companies.
Below are full details on the three best-paid corporate boards in southeast Michigan, based on total 2025 payouts of cash, stock awards and “other” compensation.
General Motors
Penske Automotive Group
Ford Motor Co.
Contact JC Reindl: 313-378-5460 or jcreindl@freepress.com. Follow him on X @jcreindl
This article originally appeared on Detroit Free Press: Best paid board members at 3 southeast Michigan companies
Reporting by JC Reindl, Detroit Free Press / Detroit Free Press
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By JC Reindl, Detroit Free Press | USA TODAY Network
