Outback Steakhouse’s new CEO is getting a $500,000 signing bonus

Outback Steakhouse’s new CEO is getting a $500,000 signing bonus, one year after getting one from Delta.

Transcript

00:00Outback Steakhouse's new CEO is switching from airplanes to steaks and he's getting a meaty $500,000 signing bonus with it.

00:07Just over a year ago, Mike Spanos accepted a new role as Delta's chief operating officer, a gig that came with a $250,000 signing bonus.

00:16Now the executive is headed towards the hospitality business with an initial compensation package valued at almost $12.3 million.

00:24That's over 1 million orders of the Bloomin' Onion.

00:27Spanos is also still going to get up to $15,000 in flights for himself and his family under Delta's severance package.

00:35He's also eligible for $2 million in severance pay, including 18 months of his base salary, which was $650,000 a year.