New United Airlines President Scott Kirby’s move from competitor American Airlines didn’t bring a change in title but did bring a large payday.
Chicago-based United will pay Kirby an annual base salary of $875,000, the airline said in a regulatory filing Tuesday. He is also eligible for incentive pay and received a sign-on award of stock options valued at $5 million, the airline said.
Kirby also left American Airlines with a severance package worth more than $13 million, including $3.85 million in cash and accelerated vesting of nearly 260 million restricted stock units, Texas-based American said in a regulatory filing Monday.
Kirby, 49, president of U.S. Airways before taking the same role at American after the airlines merged in 2013, will immediately step into the newly created president role at United, where he will be responsible for the airline’s operations, marketing, sales, alliances, network planning and revenue management, United said.
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United CEO Oscar Munoz said the new position will let Munoz focus on the airline’s overall strategy, innovation and performance and, along with the appointment of a new chief financial officer and chief commercial officer earlier this month, is “the culmination of the formation of my senior leadership team.”
American, based in Fort Worth, Texas, has its second biggest hub at Charlotte Douglas International Airport, where it employs 11,000.