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Thread: United Airlines CEO forced to step down - Gets 4.8 million dollars and keeps the company car

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    United Airlines CEO forced to step down - Gets 4.8 million dollars and keeps the company car

    The chairman and CEO of United Airlines is stepping down in connection with an investigation into the airline's dealings with the former chairman of the agency that operates New York-area airports.

    United Continental Holdings Inc. said Tuesday that Jeff Smisek and two other senior executives had resigned and railroad executive Oscar Munoz was named CEO and president.

    United disclosed earlier this year that the company and some of its executives had received subpoenas from a federal grand jury for information about its dealings with the Port Authority of New York and New Jersey. United said it was conducting its own internal investigation.
    ...

    A filing Tuesday with the Securities and Exchange Commission described the terms of Smisek's separation agreement. He'll receive a separation payment in the amount of $4,875,000, and remain eligible for a pro-rated bonus. Smisek will have health insurance until his is eligible for Medicare, and maintain flight benefits and parking privileges for the remainder of his lifetime. He also gets to keep his company car.

    -- http://www.latimes.com/business/la-f...908-story.html



    Sounds to me like a taker, not a maker, but what do I know ....

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    FresnoJoe (09-28-2015)

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