Orbitz Poaches Its New CFO From Delta

On Friday, Orbitz Worldwide announced it has hired away Delta Air Lines Senior Vice President and Controller Mike Randolfi to become Orbitz's new chief financial officer.

Effective March 11, Randolfi will become responsible for "accounting, financial planning and analysis, investor relations, tax, procurement, internal audit, and treasury" functions at the online flight reservations company. Interim CFO David Belmont, meanwhile, will "return to his position as group vice president, financial planning and analysis."

In an SEC filing on the hire, Orbitz advised that Randolfi will receive a $100,000 signing bonus and a 450,000-share restricted stock grant when he joints Orbitz, with the stock vesting "in four equal installments on each of the first, second, third and fourth anniversary of grant date." His base salary will be $360,000, and he will be eligible to receive annual bonuses in the amount of 75% of "eligible earnings."


The company will also reimburse Randolfi his moving expenses.

The article Orbitz Poaches Its New CFO From Delta originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Investor’s Toolbox

Improve your investing savvy with the right financial toolset.

View Course »

Add a Comment

*0 / 3000 Character Maximum