United CEO Munoz will not chair board in 2018 following passenger furor

United Continental said Friday CEO Munoz will not become chairman in 2018, under an amendment to his employment agreement approved after an uproar over the treatment of a passenger. In a reversal of his earlier employment agreement, Munoz has opted to leave "future determinations related to the Chairman position to the discretion of the Board," United said in a US Securities and Exchange Commission filing. The company also said it would revise its 2017 executive compensation to more directly tie incentives to improvements in customer satisfaction. In 2016, Munoz made $18.72m. "United's management and the Board take recent events extremely seriously, and are in the process of developing targeted compensation program design adjustments to ensure that employees' incentive opportunities for 2017 are directly and meaningfully tied to progress in improving the customer experience," the filing said. <br/>