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NEWS
Former Ford Australia boss pockets $5.3 million
Record pay day for pallet packing former Ford Australia chief Tom GormanFord Australia boss Bob Graziano might have been buoyed by news this week that his predecessor Tom Gorman will pocket a $5.3 million pay check in his role as boss of pallet packing outfit, Brambles.
Graziano probably doesn’t see much light at the end of the tunnel most weeks, presiding as he is over a crumbling local manufacturing picture as sales of Falcon head inexorably south.
But Gorman’s healthy pay day will no doubt encourage him that there’s life beyond the car business for the astute executive prepared to chance his hand. Gorman (pictured) left Ford Australia for the Brambles role in early 2008, after four years in the Broadmeadows hot seat and more than 20 years within the warm embrace of the blue oval.
Back then, our love affair with big Aussie cars was already cooling quicker than a lava flow, but Graziano would no doubt still love today’s FG Falcon to be selling the 2500 a month it was back then. VFACTS figures reveal that Falcon managed just 1353 sales in August, with year to date sales of 9140 being 27.4 per cent down on the same period last year.
Gorman’s bank manager will no doubt be applauding his decision to jump the cyclone wire fence, but he’s not the first former Ford boss to have made good beyond the business of pushing tin. One of Australia’s leading automotive exports, Jac Nasser, is currently Chairman of the Board of mining giant BHP-Billiton, where he’s worked since 2006.
Lebanese-born and Melbourne-raised, Nasser carved out a successful career with Ford Australia before venturing abroad and climbing all the way to the Presidency of FoMoCo, a role he held from 1998 until 2001.
The New York Times reported that Nasser received a payout of $US23 million when he left Ford, although his pay check at BHP Billiton has been reported as a more modest $US1 million.
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