Posted on 04/23/2015 1:05:46 AM PDT by Olog-hai
The CEO of American Airlines received compensation valued at $12.3 million last year and will stop drawing a salary and instead be paid entirely in company stock.
CEO Doug Parker said Wednesday that the change started immediately and would make his compensation more in line with shareholder interests.
American Airlines Group Inc. disclosed his compensation and the other changes in filings with the Securities and Exchange Commission. […]
Parker’s deal seems to cut against a trend in CEO pay. Stock grants were attractive just after the financial crisis of 2008 but are less appealing now after a long rally in the stock market—the shares are less likely to rise. Cash payments to CEOs in 2014 grew at the fastest rate in at least four years, according to a study that the Hay Group conducted for The Wall Street Journal. …
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I like Doug Parker.
He is a hard charging, ambitious CEO who came from nothing to now leading the world’s largest airline.
It was Doug Parker who became CEO of America West Airline 10 days before 9/11.
From that, he was able to merge the airline with US Airways (keeping the name but replacing the management with Parker’s team) to now merging with American Airlines (keeping the name and replacing American’s management with Parker’s team).
He has advocated for consolidation in the airline industry and saw it bear fruit.
I predict good things for American in the coming years.
Too bad MacDonald’s doesn’t do this with their employees. Incentive is good..and when times get tough, the employees either get going or starve...even at a Micky d’s.
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