O`Gorman previously was president of Aloha Airlines and Frontier Airlines.Ī banker said having UAL`s three unions control the company is a ''big, big negative'' for the deal. The name of Joe O`Gorman, UAL`s senior vice president for maintenance and engineering, surfaced Thursday as a possible chief operating officer. It is believed the reference was to Stephen Wolf, UAL chief executive, John Pope, chief financial officer, and James Guyette, executive vice president.
I made my decision Wednesday.''Īsked in Detroit if he might consider hiring Frederick Zuckerman, who resigned last week as Chrysler`s treasurer, Greenwald said: ''Chances are I would first look at executives in the airline industry.''Ī published report Thursday said the unions want to keep ''several'' of the 40 members of UAL`s senior management, a remark that apparently created consternation at UAL`s executive offices in Elk Grove Village.Ī union source said, however, that the labor groups were ''comfortable with current management'' but that ''two or three changes at the top have to be made.'' ''Lee and I just finished talking Wednesday. Until Lee and I met and spent 1 1/2 days together,'' he said. ''I didn`t decide irrevocably (to accept the UAL offer) Greenwald said he flew to Italy last Monday to meet there with a vacationing Iacocca. to help rescue Chrysler from financial ruin. He compared that to the opportunity provided him by Iacocca in 1979, when he left Ford Motor Co. Greenwald said the UAL job provided an intriguing challenge: running what would be the nation`s largest employee-owned company. If the buyout can`t be completed, it is believed he would receive a hefty termination fee.
It is believed Greenwald also stands to receive various bonuses over the course of his contract, UAL stock and other executive perquisites. Peterpaul was quoted Thursday as saying Greenwald will receive $1.1 million a year in salary. Greenwald declined to discuss what compensation he will receive under the five-year contract he signed with the unions. He said he was ''absolutely convinced the financing can be done and will be done.''
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