Penske auto chief's 2007 pay doubles
9:15 AM Wed, Mar 12, 2008 | Permalink
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Roger Penske has gone from a popular Indianapolis 500 and Nascar race track driver to a corporate CEO with a multi-million dollar paycheck. Penske, 71, is chairman and CEO of Penske Automotive Group, the second-largest publicly traded U.S. car dealer and owner of Inskip Auto mall in Warwick. His total compensation almost doubled to $2.23 million last year, as the price of the company's shares (PAG:NYSE) fell 26 percent. The company told federal regulators that Penske received stock awards of $1.46 million, more than tripling from $393,976 the previous year. His compensation also included a salary that was unchanged at $750,000 and other pay of $25,000. For 2007, the company's net income rose 2.4 percent to $127.7 million, the smallest percentage increase since a loss in 1998. Revenue was $12.9 billion. 
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