Stories indexed with the term ‘CEO contract’

At its Dec. 15, 2011 meeting, the Ann Arbor Transportation Authority board voted to award its CEO, Michael Ford, an increase in base salary of $4,800 to $164,800 annually. The board also authorized a $10,000 lump-sum payment into a 457 deferred compensation plan, and vesting in the AATA employee pension plan effective Oct. 1, 2011.

Last year, Ford’s contract, which is renewable each year on October 1, paid Ford $160,000 a year. Ford did not receive a raise last year, but was given a one-time additional payment equal to 4% of his annual salary .

At the board’s May 19, 2011 meeting, the AATA board had approved a new employment contract with Ford, who was hired in the summer of 2009. [For a ... [Full Story]

At its May 19, 2011 meeting, the board of the Ann Arbor Transportation Authority approved a new employment contract with its chief executive officer Michael Ford, who was hired in the summer of 2009. [For a report on Ford's April 2009 final interview: "AATA, CEO Candidate Start Talks"]

The contract, which is renewable each year on October 1, pays Ford $160,000 a year – the same compensation he received last year. Ford is not receiving a raise this year, but will receive a one-time additional payment equal to 4% of his annual salary – his base salary will not change.

Board members at the meeting praised Ford’s work over the last year in leading the AATA’s countywide transit master planning effort.

This brief was filed from the boardroom of the downtown Ann Arbor District Library, where the AATA board holds its meetings. A more detailed report of the meeting will follow. [Full Story]