United Airlines CEO’s Reap Rewards for Merger (www.United.com)
CEO’s of the United Airlines company which is one of the largest airlines in the world are said to be reaping huge rewards after the 2010 merger with the Continental airlines company. The CEO; Jeff Smisek started the year of 2010 vowing that he would not receive any salary at all until the Continental Airlines company turned a profit. However, since then he has ended the year with a pay rise and $4.4 million compensation for successfully pulling off the merger.
Jeff Smisek is the CEO of the merged company; United Continental Holdings Inc and he received a salary in 2010 of just over three quarters of a million dollars. As well as this, he also received around $3.6 million in other incentives. However, although vowing not to take any salary at all until the company turned a profit, on paper, he took a significantly lower salary than the pre-merger CEO of United Airlines last year who was awarded almost $17 million.
It is said that the reason for such rewards is because the merger created the world’s largest carrier company and increased the share price of the company by 85 percent.
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