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NEW YORK – General Motors Corp. (GM), which significantly improved its financial performance in 2006 but did not make a profit, will not pay cash bonuses to top executives for the second consecutive year, the New York Times reported.
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GM spokeswoman Renee Rashid-Merem told the Times that the decision affected about 20 people, including Chief Executive Rick Wagoner and Vice-Chairman Robert A. Lutz.
Full details on executives' compensation will be released next month when the company files its annual proxy statement, the Times said.
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