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Great move: Delta awarding CEO Richard H. Anderson $13.6M for closing NWA deal
By Amarendra Bhushan for CEOWORLD Magazine Updated:November 4, 2008
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!Delta Air Lines CEO Richard Anderson will get stock awards worth more than $13 million beginning next year for closing the carrier’s buyout of Northwest Airlines. Anderson has to stay with Delta to get the shares and options. Delta employees and their new co-workers from Northwest also are getting stock.
Atlanta-based Delta had said it would hand out about 15% of its shares to various employees, including almost 10% to the rank & file. Another 3.5% is going to about 700 officers, directors, and managers. Northwest is Michigan’s largest passenger air carrier. Delta is operating Northwest as a subsidiary, but plans to adopt the Delta brand across the operation over the next two years.
About Delta Air Lines
With its acquisition of Northwest Airlines, Delta Air Lines is now the world’s largest airline. From its hubs in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK, Salt Lake City and Tokyo-Narita, Delta and its Northwest subsidiary offer service to more than 375 destinations worldwide in 66 countries and serve more than 170 million passengers each year. Delta’s marketing alliances allow customers to earn and redeem either SkyMiles or WorldPerks on more than 16,000 daily flights offered by SkyTeam and other partners. Delta and its 75,000 worldwide employees are reshaping the aviation industry as the only U.S. airline to offer a full global network. More information about the new Delta is available online at news.delta.com.
Richard H. Anderson
Richard H. Anderson became Chief Executive Officer of Delta Air Lines, effective Sept. 1, 2007.
Richard has nearly 20 years of aviation experience. He entered the industry in 1987 at Continental Airlines, where he served as staff Vice President and deputy general counsel. In 1990, he began a 14-year career at Northwest Airlines where he served as Vice President and deputy general counsel; Senior Vice President of Technical Operations and Airport Affairs; executive Vice President and Chief Operating Officer; and as Chief Executive Officer from 2001 to 2004.
Richard joined Delta from UnitedHealth Group, where he was Executive Vice President and served as President of UnitedHealth’s Commercial Markets Group. He also serves as a Director of Cargill, Inc. and Medtronic, Inc.
A native of Galveston, Texas, Richard holds a bachelor’s degree from the University of Houston and a Juris Doctor degree from South Texas College of Law.
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