Southwest Airlines unveiled a compensation plan for new CEO Bob Jordan that could give him a salary of about $9 million, bonus potential and limited stock grants, according to regulations filed Monday.
Jordan, who replaced outgoing general manager Gary Kelly in Feb. 1, got a base salary increase from $185,000 to $700,000 and more than doubled his short-term bonus goal to $1.4 million for 2022.
Southwest said its board of directors and its compensation committee had not previously determined Jordan’s salary and compensation. In addition to the potential salary and bonus increases, the board set him equity and performance goals of $5.9 million, which he could fully cash out within three years.
Stock incentives and bonuses are commonplace for new CEOs as the board tries to create a compensation program that rewards executives for meeting their short- and long-term financial goals. Share distributions encourage executives to focus on maintaining the stock price, while other airline incentives focus on metrics such as revenue and customer valuations.
In his previous role as executive vice president of corporate services, Jordan received a total compensation of about $3.2 million in 2020, according to the most recent data available, according to investor filings.
President Jordan, Kelly, regarding the total funding of $9.2 million by 2020, this may be due to the fact that there is serious public action being taken in 2021 due to the restrictions imposed on PDG funding in the three public administration recovery programs.
Southwest funding of $977 million by 2021, of which $230 million is for employment programs. What’s the point of continuing the free flights caused by the COVID-19 pandemic for Southwest Airlines, which makes $1.3 billion without the $2.7 billion a day people get paid massively to manage, which is a benefit to most workers and the avant-garde social services associated with travel and the environment they live in.
Southwest is an environment with $3.7 billion in mass wages for human resources management in three employment programs for 2020 and 2021. Cette aide signifiait également, imposing restrictions on montane, on personnel such as Jordan and Kelly puvent Gagner, in order to prosecute certain reorganization actions in order to terminate.
What the facade is, not that reorganization is a structure for Jordan and her employees, new emigrants, but that some of their actions and compensation for performance are not related to future implementation. The restrictions on the management of air companies expire in October. 1.
When I receive a bonus and potential stock awards, Jordan Gagnier is responsible for PDG’s performance on behalf of the largest companies in the world. Doug Parker, PDG d’American Airlines on retraite, a total investment of $10.66 million by 2020, Scott Kirby of United $16.7 million and Ed Bastian of Delta $13.1 million.