The CEO of Southwest Airlines is seeing his compensation nearly double after getting promoted to the top job, with the airline's directors looking past a meltdown over the Christmas holiday.
FILE - Robert Jordan, incoming Southwest Airlines CEO, is interviewed outside the New York Stock Exchange, Dec. 9, 2021. Southwest Airlines CEO Jordans compensation nearly doubled in 2022 to $5.3 million after being promoted to the top job during a year that ended with massive flight cancellations that will cost Southwest more than $1 billion.
Southwest disclosed in a proxy filed Thursday that the estimated value of Jordan’s compensation rose from $3 million in 2021, when he was executive vice president of the Dallas-based airline. In 2022, Jordan received stock awards valued at $3.6 million, $676,875 in salary, a cash bonus and incentive compensation together worth $978,600, plus retirement-plan benefits. The eventual value of the stock awards will depend on the company’s financial performance from 2022 through 2024.
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