American Airlines CEO Ends Contract, Taking `At Will' Status
- Being only worker with guarantees `didn't seem right,' he says
- Parker last year switched his compensation to all stock
Doug Parker.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
American Airlines Group Inc. Chief Executive Officer Doug Parker ended his contract with the world’s biggest carrier, switching his employment status to “at will” to match that of the company’s 100,000 workers.
The move, effective Thursday, was disclosed by American in a U.S. regulatory filing Friday and in a letter from Parker to employees. It means he isn’t guaranteed a set level of compensation and benefits, nor is he protected from a change in control at the company or covered by severance provisions, according to the filing. The change occurred at Parker’s request.