GM's Smale gets $300,000 a year

April 14, 1993|By New York Times News Service

DETROIT -- Expanded duties at the world's biggest automaker are earning John G. Smale, chairman of General Motors Corp., a fatter paycheck than before.

Mr. Smale, an outside director who was named chairman last November, is being paid $300,000 a year, according to the proxy statement that GM released yesterday. Other outside directors receive roughly $60,000 annually.

From April to November of last year, Mr. Smale served as a consultant to GM and as the chairman of its executive committee.

He received $87,500 for that period.

Almost a year ago, GM's outside directors decided to watch more closely the troubled company's operations by altering the makeup of the executive committee, demoting several executives and appointing John F. Smith Jr. president and chief operating officer.

Mr. Smale, 65, a retired chairman and chief executive of the Procter & Gamble Co., assumed more responsibility for evaluating GM and its executives and for reporting to fellow directors.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.