WestJet chief's pay slips in 2009

The compensation package for WestJet Airlines Ltd. chief executive officer Sean Durfy totalled $2.2-million last year, compared with $2.7-million in 2008, according to the Calgary-based company's management proxy circular. Mr. Durfy, who is stepping down as CEO next Thursday, is eligible for a $1.6-million "cash severance benefit," although the final amount could "differ materially," the circular said. His pay included $535,000 in salary last year, compared with $500,000 in 2008. Airline industry veteran Gregg Saretsky will be replacing Mr. Durfy, who has said he wants to spend more time with his young family. Mr. Durfy will help the incoming CEO with transition plans until Sept. 1. Under his employment contract, Mr. Durfy can't compete against WestJet for 18 months after his departure. WJA (TSX) closed unchanged at $13.75.