United Airlines cuts COO Hart's pay by US$1m over Port Authority probe
[NEW YORK] United Continental Holdings Inc said in a proxy statement Friday that it cut the pay of one of its top officers in connection with an internal probe that resulted in its chief executive's resignation last year.
The 2015 annual incentive pay of chief operations officer Greg Hart was reduced by US$1 million in connection with a probe into the No 3 US airline's relationship with the Port Authority of New York and New Jersey.
The internal probe focused on whether United added flights to Columbia, South Carolina to curry favor with then-Port Authority Chairman David Samson, who had a home there. United has also disclosed two government probes related to the matter.
United spokeswoman Megan McCarthy said in a statement that the company did not have anything to add beyond what it had disclosed.
The proxy statement said its separation agreement with Jeff Smisek, made effective on Sept 8, gave the outgoing chief executive US$36.8 million in severance payments and benefits.
His successor, Oscar Munoz, abstained from voting on the separation agreement between United and Smisek, according to the filing.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Cruise operator Norwegian lifts 2024 profit view, but Q1 sales miss hits shares
China’s electric cars keep improving, a worry for rivals elsewhere
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst
Tesla axes most of Supercharger team in blow to other automakers
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
More than 800 Hyundai, Kia EVs in Singapore to undergo recall for electronics fault