From today's Autoline Daily.
What’s it take to get a Silicon Valley executive to join a legacy automaker? Just a lot of money.
Sterling Anderson, who is now responsible for GM’s software and product development, got a one-time signing package worth up to $40 million to join the automaker. It will be paid out through 2027, and after that he’ll be paid more in line with other executives. Anderson received $16 million in cash and stock last year and he can earn another $24 million if he stays and achieves company objectives. That compares to GM CEO Mary Barra, who saw her compensation rise to $29.9 million. While Anderson’s one-time signing compensation is a bit staggering, we’d point out that’s probably what it takes a legacy automaker to get top Silicon Valley talent, who typically get big stock bundles that can be worth a fortune if a startup succeeds. Anderson co-founded autonomous trucking startup Aurora and he was the former lead of Tesla’s Model X and Autopilot programs.