Tuesday January 06, 2009
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 Do you think companies should adopt Say on Pay provisions?July 29, 2008 JetBlue CEO Cuts Salary in HalfEconomic woes have stretched to the runways of major airlines and, in response, JetBlue’s CEO is cutting his base salary in half. JetBlue CEO David Barger, who took over JetBlue last year after founder David Neelemen stepped down, is cutting his salary in half from $500,000 to $250,000, according to the Securities and Exchange Commission filing.
The changes are effective for July 28, 2008 and are for the period of July 1, 2008 through December 31, 2008 only.
The salary reduction comes after JetBlue reported a $7 million quarterly loss. Barger said that revenue was not holding against rising fuel prices. Any growth plans have been postponed and new plane orders have been deferred to cut costs.
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