Delta chief waives merger pay
Delta (DAL) chief Richard Anderson is serious about getting his airline together with his former employer, Northwest Airlines (NWA). Anderson told the board of Atlanta-based Delta that he’llĀ forgo his right to as much as $15 million in pay that he’d be contractually due in the years after a merger, The Wall Street Journal reports.
Anderson’s move shows he plans to stay with Delta and could help the companies sell the deal to their unionized workers by showing executives aren’t unfairly benefiting at the expense of the rank and file. Union leaders at Delta and Northwest are reportedly studying the possible merger, Bloomberg reported earlier this week. Despite all the complications, it seems likely that some deals will take shape soon. Northwest chief Doug Steenland said last week that the industry is headed for consolidation as airlines seek to combat high fuel prices and reduce overcapacity. Doing nothing, he warned, “could be our worst alternative.”
My business has brought me in contact with Richard Anderson for the past decade. This move on his part to relinquish future benefits does not surprise me. This man has all the qualities needed to change the way ceo’s do business and relate to their employees/communities at large in this country. I look forward to his next move.
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As an employee of NWA, it shows the different styles of leadership and management between Steenland and Anderson. Steenland is a mediocre manager of resources, Anderson is a strong and effective leader of people. Who would YOU rather work for???