GM Denies Allegations of Executive Compensation Increase

Earlier today, rumors were circulating that General Motors (NYSE:GM) had proposed compensating CEO Dan Akerson $11.1 million this year, as a part of an $82 million executive compensation plan spread out over 25 top officials in the company. Other names were omitted from the document obtained by Bloomberg, but it did show that Akerson would have been the highest-compensated individual in the company.

However, GM has come forward since the initial report and denied the company offered that amount. Instead, the company confirmed that it requested $9 million, which is consistant with the amount requested in 2011 and 2012, and stated that the amount falls in with the federal guidelines for compensation following the government’s help in restructuring the company’s bankruptcy in 2009.