After being forced to offer early retirement buyouts to many of his pilots, JAL CEO Haruka Nishimatsu thought it was only fair that he cut his own perks and salary. He now makes the equivalent of US$90,000 a year.
For comparison, I compiled a list of what the CEOs of the top US carriers took home last year despite alienating most of their customer base with deteriorating service, laying off tens of thousands, weaseling out of pension obligations, and doing a generally abysmal job.
W Douglas Parker, US Airways Group: $11.34 million Lawrence W Kellner, Continental Airlines: $10.33 million Glenn F Tilton, UAL: $5.55 million Douglas M Steenland, Northwest Airlines: $1.81 million Gary C Kelly, Southwest Airlines: $1.21 million Gerard J Arpey, AMR: $1.10 million Richard H Anderson, Delta Air Lines: $600,000 David Barger, JetBlue: $257,270
It's probably no coincidence that the CEOs of the country's best run airlines are on the bottom half of the list.
2008-12-01, 09:42 PM
mirrodie
Re: JAL CEO Cuts His Own Pay Below That of Pilots
That is a great story. And something that should be all over the news.
WOndering, is Arpey's figure with or without stock options? IIRC his salary was $650000.
2008-12-01, 09:49 PM
G-BOAD
Re: JAL CEO Cuts His Own Pay Below That of Pilots
Very honorable move on his behalf, i hope more executive could follow in his example!
2008-12-01, 11:07 PM
stuart schechter
Re: JAL CEO Cuts His Own Pay Below That of Pilots
Very honorable thing to do for him and his airline.