Tag Archives: executive compensation

Brace to Get Parting Gift of $2.4 Million

United said in an SEC filing late Friday that Jake Brace, United Airlines’ CFO, will be paid $2.42 million after he retires at the end of the month.

Brace will receive two times his $653,125 salary and $555,156 target bonus.

In exchange, Brace agrees not to take a position with a competing airline for the next two years “without consent of the company.” (No, I’m not saying a word, although the temptation is great.)

It’s so nice that Jake will be paid this lovely parting gift. Dontcha think? I’d hate to think he was going to leave the airline empty-handed.

Jake Brace To (Finally) Leave United Airlines

Interesting news crossing the wires this morning as United Airlines has announced that Jake Brace, long-time CFO, is “retiring” from the company on Nov. 1. AERO-ARMS-SUMMIT/

A couple of things. One this is great news. Should have happened a long time before now however.

Secondly, Kathy Michaels, the former head of IR at United, is going to succeed him. That is also good news.

Of course, no news like this is what it appears to be on the surface, and the obvious question hitting my email box this morning more or less runs around this theme — did CEO Glenn Tilton finally push Jake out, in an attempt to put a lid on mounting calls for Glenn’s dismissal?

Could be.

Or it could be that Jake has come to the conclusion that his days at United are numbered anyway — and he might as well get out now, with a fat retirement/consulting package, before things get much worse.

Speaking of that no-doubt bloated “retirement/consulting” compensation package — we, along with everyone else will be awaiting the details –when the company outlines the deal in an SEC filling.