Business Services Industry
Delta CEO Pockets 72 Percent Less Cash in 2001.
Knight Ridder/Tribune Business News, March, 2002
By Nancy Fonti, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News
Mar. 26--Delta Air Lines Chief Executive Leo Mullin's total cash compensation fell 72 percent in 2001, to $596,250 from $2.145 million in fiscal 2000, as he took a voluntary post-Sept. 11 pay cut.
But Mullin also got common stock worth $1.57 million at the time of the award as part of the company's long-term incentive plan.
The stock award, given every three years, covers Mullin's performance from July 1998 through June 30, 2001. The amount was based on Delta's share price compared with that of its peers, on-time performance, mishandled baggage rate, and consumer complaints.
As Delta struggled to recover from an economic downturn and the Sept. 11...
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