In case you missed yesterday’s news, United announced that as part of its revised compensation program, CEO Oscar Munoz will no longer be named chairman. The plan originally had Munoz earning the title in 2018, but United updated his contract to remove that provision.
“The Board believes that separating the roles of chief executive officer and chairman of the board is the most appropriate structure at this time, a means to ensure that Mr. Munoz is able to more exclusively focus on his role as Chief Executive Officer.”
United said that the change was required to ensure proper weight was given to customer satisfaction in “a response to recent events.” Executive compensation will also be updated based on the “progress in 2017 on significant improvement in the customer experience at United, and aligned changes to United’s culture and processes.“
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