Printer Friendly

DELTA AIR CHAIRMAN REDUCES HIS SALARY TO 1989 LEVEL

 DELTA AIR CHAIRMAN REDUCES HIS SALARY
 TO 1989 LEVEL
 ATLANTA, Aug. 18 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) Chairman of the Board and Chief Executive Officer Ronald W. Allen yesterday asked the airline's Board of Directors to reduce his annual salary $100,000 to $475,000, effective Aug. 15.
 Allen, whose salary is set by the Delta Board, is one of the lowest paid of the major airline CEOs. Members of the Delta Board, while agreeing to his request, said they did not consider him overly compensated.
 Allen said: "These are difficult times financially for Delta and the airline industry. This reduction returns my pay to the level the Board set in September 1989. I sincerely hope that it will not be necessary to ask others to take a salary cut; however, by my action I hope to demonstrate just how serious the situation remains. It is critical that all Delta personnel work together during this difficult time and that we take the proper steps to keep Delta healthy for the future."
 -0- 8/18/92
 /CONTACT: Delta Air Lines public relations, 404-715-2533/
 (DAL) CO: Delta Air Lines, Inc. ST: Georgia IN: AIR SU:


BR-BN -- AT011 -- 1091 08/18/92 16:34 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 18, 1992
Words:203
Previous Article:HANOVER DIRECTORS DECLARES DIVIDEND
Next Article:STRATEGIC GLOBAL INCOME FUND ASSET ALLOCATION
Topics:


Related Articles
DELTA AIR LINES TO DEFER AIRCRAFT ORDERS; SENIOR OFFICERS ASK FOR SALARY REDUCTION
DELTA AIR LINES OUTLINES EMPLOYEE PROFIT SHARING PROGRAM
DELTA AIR LINES AND TRANSQUEST TECHNOLOGY TO BECOME PART OF SMITHSONIAN INSTITUTION COLLECTION
DELTA PILOTS' UNION ELECTS NEW LEADERSHIP
Delta Air Lines Announces Record Profit Sharing Awards
Delta Air Lines Rolls Out the Red Carpet Tuesday For its 'Above and Beyond' Employees
Delta Profit Sharing Payments Provide $96 Million Economic Boost to Major Hub Cities
CHAIRMAN AT DELTA AIR STEPS DOWN : COST-CUTTING MADE AIRLINE PROFITABLE.
Delta pilot retirees to argue for representation in bankruptcy proceedings.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters