FORD chief executive Alan Mulally's compensation rose 11 per cent to $US23.2 million ($A25.12 million) in 2013, as the company reported record profits in North America and Asia.
Mulally earned $US2 million in salary, the same as 2012.
But he earned more in bonuses, at $US5.9 million, and in stock and option awards, which totalled $US14.6 million.
The company's board noted that Mulally helped keep the company's European restructuring on track.
It said Ford exceeded internal profit and cashflow targets, and noted that the Michigan-based company doubled its dividend in 2013. But the board said Ford missed internal targets for market share increases and quality improvement.
Ford earned a record pre-tax profit of $US8.8 billion in North America and a record profit of $415 million in Asia last year.
Ford saw strong demand worldwide for small SUVs such as the Escape, EcoSport and Kuga last year. In the US, sales of the F-Series pick-up truck jumped 18 per cent as the economy continued to improve.
Mulally's compensation included $232,153 for personal use of private planes.
Mulally, 68, announced in January that he would stay at Ford at least through the end of this year, putting to rest rumours that he might leave to become chief executive of Microsoft.
Mulally has made $197.65 million since joining Ford in 2006, according to the AP's calculations. He led a major restructuring at the automaker, cutting costs by closing factories and globalising its product offerings worldwide. Ford has earned $42.4 billion since returning to profitability in 2009.
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