Merger in the air
The merger of Eagan-based Northwest Airlines and Atlanta-based Delta Air Lines will create the country's largest air carrier.Merger in the air
NWA CEO will receive $18.3 million in severance
by Martin Moylan, Minnesota Public RadioApril 30, 2008
St. Paul, Minn. — Northwest Airlines CEO Doug Steenland currently stands to receive about 18.3 million dollars in severance after Delta Air Lines acquires the company.
The total includes pension benefits and restricted stock. The value of the package is subject to change with the company's share price.
The updated numbers are in line with the company's earlier disclosure of Steenland's severance benefits.
Steenland is expected to have a seat on the board of the combined airlines, but not to have a position in management.
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