American Airlines CEO got $12.3 million last year; will now be paid entirely in company stock

IndustriesAssociated Press

The CEO of American Airlines, who got $12.3 million in compensation last year, will stop drawing a salary and instead be paid entirely in company stock.

CEO Doug Parker says the change starts immediately and will make his compensation more in line with shareholder interests.

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American Airlines Group Inc. disclosed the change Wednesday in filings with the Securities and Exchange Commission.

About 40 percent of Parker's compensation last year was in cash, including a $700,000 salary. In 2013, the company paid him $17.7 million, including stock awards valued at $15.4 million.