Why Ontario airport authority’s new CEO contract comes with less perks
ONTARIO >> The Ontario International Airport Authority will pay its executive director, Mark Thorpe, nearly $340,000 a year.
Under the terms of the three-year contract, the authority would pay Thorpe a $295,000 annual salary, and contribute $44,000 a year to his savings plan.
His perks include a $650 monthly vehicle allowance and $100 monthly stipend for his cellphone.
Unlike his predecessor, he won’t receive any special perks when it comes to salary or benefit increases.
The agreement the authority lined up for its former CEO, Kelly Fredericks, who, if he hit certain performance measures could have been eligible for anywhere from $99,625 to $159,000 in annual bonus incentives.
Fredericks also received two paid trips for him to search for housing and then up to $18,000 in temporary living expenses for up to six months. The 2016 contract said the former CEO had “exclusive and unrestricted use at all times of a fully equipped vehicle” and a $100 monthly stipend for a cell phone.
“The previous contract was negotiated prior to OIAA closing the transaction with Los Angeles and obtaining the FAA Operating Certificate,” OIAA President and Ontario Councilman, Alan Wapner, said. “Since the transfer of the airport to local control was not assured at the time we were seeking candidates for the CEO position, it was necessary to provide additional compensation and benefits as recommended by the retained search firm.”
OIAA Commissioner Curt Hagman also noted that Fredericks was expected to turn things around at the airport on his own. Since then, the authority has also brought in two consultants that will help with the airport’s development. The two consultants earn $240,000 annually, to provide their expertise to the authority.
“He has a lot more support to make that happen,” Hagman said about Thorpe.
In July, the authority announced that Fredericks had stepped […]