Longtime United Airlines senior executive Doug Hacker, who took the carrier to court last month for allegedly not paying him bonuses he was due, is leaving the company May 1, parent UAL Corp. said in a regulatory filing Friday.
Hacker, 50, decided to step down after successfully completing the sale of United subsidiary MyPoints Inc. this week, company spokesman Jean Medina said. She declined to elaborate.
The company said in its annual report on March 31 that it was in the process of negotiating Hacker's resignation.
Hacker filed a claim in U.S. Bankruptcy Court earlier in March saying United owed him millions of dollars for bonuses promised for overseeing its loyalty programs and Internet investments between 2000 and 2003.
He did not respond to a telephone message seeking comment Friday.
The executive vice president of strategy since May 2004, Hacker has held a variety of management positions at UAL since 1993 and was chief financial officer from 1999-2001.
Under the terms of the agreement the company filed with the Securities and Exchange Commission, he will receive $1.07 million in severance pay and as much as $600,000 in other payments. He also will receive a $2.01 million bonus for Monday's $56 million sale of online retail marketing firm MyPoints, which he headed, to Internet service provider United Online Inc.
UAL said Hacker has a remaining claim of $368,167 in conjunction with the company's discontinued Senior Executive Retirement Plan, to be resolved in bankruptcy court, but all other claims have been withdrawn.
Hacker received pay of $841,000 from UAL last year.
United has emerged from Chapter 11 bankruptcy but loose ends from its 38-month restructuring are still being resolved in the court.
News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.
