January 13, 2009

Orbitz CEO gets $2 million severance

Travel company Orbitz Worldwide Inc. said its departing chief executive officer Steven Barnhart will leave with a separation package worth more than $2 million.

The online travel agency disclosed the agreement in a regulatory filing, the Chicago Tribune reported Tuesday.

The company said last week that CEO Barnhart, who joined the company in 2003, was leaving and would be replaced by Expedia Inc. executive Barney Harford.

The severance package includes his salary plus his target bonus for 24 months, the newspaper said.