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GM's female CEO to make more than $14 million

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General Motors disclosed the pay package for Mary Barra, its new CEO. Barra is expected to receive a total package of $14.4 million.

GM made the salary and stock options public after receiving heavy criticism for appearing to pay the first female CEO much less than the man she replaces. Dan Akerson, who resigned as CEO, in January, was paid about $9 million.

In January, GM announced that Barra would receive a cash salary of $1.6 million, and an incentive payment of $2.8 million. At the time, GM did not release an estimate of Barra's long term compensation. Critics pounded General Motors for paying the first female CEO of any automaker less than half of her male counterpart.

The board is expected to approve the pay package during its meeting, in April.

First Lady Michelle Obama invited Barra to attend the State of the Union address. She is considered an example of how far the once bankrupt automaker has come.

Fortune Magazine also recently named Barra as "The Most Powerful Woman in Business." She has worked at GM for 33 years, before being named CEO.

If her pay package is approved as expected, in April, she will may approximately 60 percent more than Dan Akerson was paid, in 2013.

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