The CEO of American Airlines, who got $12.3 million in compensation last year, will stop drawing a salary and instead be paid entirely in company stock.

CEO Doug Parker says the change starts immediately and will make his compensation more in line with shareholder interests.

American Airlines Group Inc. disclosed the change Wednesday in filings with the Securities and Exchange Commission.

About 40 percent of Parker’s compensation last year was in cash, including a $700,000 salary. In 2013, the company paid him $17.7 million, including stock awards valued at $15.4 million.

Copyright (2015) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

This article was written by David Koenig from The Associated Press and was legally licensed through the NewsCred publisher network.

November 16, 2022
Dallas-Fort Worth, TX and Online
Learn More Now

Tags: american airlines, ceos

Photo credit: Former American CEOs Tom Horton (left), and Robert Crandall (right, glasses) applaud as CEO Doug Parker (center) rings the NASDAQ bell. Paul Moseley / Fort Worth Star-Telegram/MCT