UPDATE 1-Delta will not pay top execs 2003 cash bonuses


(Recasts first sentence, adds details from Grinstein memo, share movement) CHICAGO, Dec 23 (Reuters) - Delta Air Lines' new chief executive, Gerald Grinstein, said on Tuesday the airline will not give cash bonuses for 2003 to top executives and that it is rethinking its approach to executive compensation. In a memo to employees, Grinstein also said the No. 3 U.S. air carrier has developed a plan for some executives to defer separate retention bonuses that are payable in January. "I ...

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