Judge nixes $20M severance for American Airlines CEOUSA TODAYA federal bankruptcy judge has denied the $19.9 million cash and stock severance package, which was slated for CEO Tom Horton as part of the merger between American parent AMR and US Airways. The ruling is not expected to sidetrack the merger.Judge denies $20M severance for CEO of American Airlines parentChicago TribuneU.S. Bankruptcy Judge Sean Lane in Manhattan issued his decision on Thursday, after having approved at a March 27 hearing AMR's planned $11 billion merger with US Airways Group Inc. Horton's $19.9 million severance had been part of the merger ...Bankruptcy judge: No $20M payout for AMR CEOUSA TODAYUnder the merger deal, the new company will be called American Airlines but run by US AirwaysCEO Doug Parker. Horton would serve as chairman for a few months and then leave with a severance of $19.9 million equally divided between cash and stock.
Source:http://us-airlines-news.blogspot.com/2013/04/judge-nixes-20m-severance-for-american.html
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Judge nixes $20M severance for American Airlines CEO
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