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United Airlines (UAL) CEO Smisek to Step Down; Successor Named
Posted on 9/8/15 at 3:59 pm
Posted on 9/8/15 at 3:59 pm
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United Airlines (NYSE: UAL) announced that it has named Oscar Munoz as president and chief executive officer. Munoz will also continue to serve on United's board of directors. The board appointed Henry L. Meyer III, United's lead independent director, to serve as non-executive chairman of the board of directors. The company also announced that Jeff Smisek has stepped down from his roles as chairman, president and chief executive officer, and as a director. These changes are effective immediately.
Munoz brings to this role deep and broad experience in the transportation industry and large consumer brands including AT&T, Pepsico and The Coca-Cola Company. He most recently served as president and chief operating officer of CSX Corporation (NYSE: CSX).
Henry Meyer, non-executive chairman of the board of directors of United Continental Holdings, Inc. said, "Oscar's track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United's upward trajectory. United is well positioned to continue executing on its strategic plan to further improve performance and the value and service it provides to its customers. I'm honored to have been elected non-executive chairman by my fellow directors. The board thanks Jeff for his service to both United Airlines and Continental Airlines."
"It is truly a privilege to serve as United's CEO. United has an incredible opportunity for improving an experience that is essential to the vitality of global business and to the personal lives of millions of people, for innovation, and for earnings growth," said Oscar Munoz, president and CEO of United. "In my years serving on the board, I have been impressed by the dedication and skill of my new coworkers. Together, we will make United the top-performing airline."
Prior to joining United Airlines, Munoz served as president and chief operating officer of CSX Corporation, a premier transportation company. Munoz also served as a director at CSX. During Munoz's tenure, CSX transformed itself into an industry leader in customer focus, reliability and financial performance. CSX was named one of Institutional Investor's Most Honored Companies for a decade of excellent financial performance, including increasing its operating income by nearly 600%. Prior to joining CSX, Munoz served in various senior financial and strategic capacities at some of the world's most recognized consumer brands, including AT&T, The Coca-Cola Company and Pepsico.
He has served on the board of directors for United Continental Holdings, Inc. since 2010 and served on the board of directors of Continental Airlines, Inc. since 2004. Munoz is active in several industry coalitions and philanthropic and educational organizations including the University of North Florida's board of trustees and the PAFA advisory board of Vanderbilt University.
Munoz graduated from the University of Southern California with a bachelor's degree in business administration, and he received a master's in business administration from Pepperdine University. Munoz has been named one of the "100 Most Influential Hispanics" by Hispanic Business magazine.
The company also announced that its executive vice president of communications and government affairs and its senior vice president of corporate and government affairs have stepped down. The departures announced today are in connection with the company's previously disclosed internal investigation related to the federal investigation associated with the Port Authority of New York and New Jersey. The investigations are ongoing and the company continues to cooperate with the government.
The company's internal investigation and the related circumstances do not raise any accounting or financial reporting concerns.
United Airlines will hold a conference call to discuss this announcement on Tuesday, September 8, at 4:30 p.m. CT/5:30 p.m. ET. A live, listen-only webcast of the conference call will be available at ir.united.com. The webcast will be available for replay within 24 hours of the conference call and then archived on the website for a limited time.
United Airlines (NYSE: UAL) announced that it has named Oscar Munoz as president and chief executive officer. Munoz will also continue to serve on United's board of directors. The board appointed Henry L. Meyer III, United's lead independent director, to serve as non-executive chairman of the board of directors. The company also announced that Jeff Smisek has stepped down from his roles as chairman, president and chief executive officer, and as a director. These changes are effective immediately.
Munoz brings to this role deep and broad experience in the transportation industry and large consumer brands including AT&T, Pepsico and The Coca-Cola Company. He most recently served as president and chief operating officer of CSX Corporation (NYSE: CSX).
Henry Meyer, non-executive chairman of the board of directors of United Continental Holdings, Inc. said, "Oscar's track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United's upward trajectory. United is well positioned to continue executing on its strategic plan to further improve performance and the value and service it provides to its customers. I'm honored to have been elected non-executive chairman by my fellow directors. The board thanks Jeff for his service to both United Airlines and Continental Airlines."
"It is truly a privilege to serve as United's CEO. United has an incredible opportunity for improving an experience that is essential to the vitality of global business and to the personal lives of millions of people, for innovation, and for earnings growth," said Oscar Munoz, president and CEO of United. "In my years serving on the board, I have been impressed by the dedication and skill of my new coworkers. Together, we will make United the top-performing airline."
Prior to joining United Airlines, Munoz served as president and chief operating officer of CSX Corporation, a premier transportation company. Munoz also served as a director at CSX. During Munoz's tenure, CSX transformed itself into an industry leader in customer focus, reliability and financial performance. CSX was named one of Institutional Investor's Most Honored Companies for a decade of excellent financial performance, including increasing its operating income by nearly 600%. Prior to joining CSX, Munoz served in various senior financial and strategic capacities at some of the world's most recognized consumer brands, including AT&T, The Coca-Cola Company and Pepsico.
He has served on the board of directors for United Continental Holdings, Inc. since 2010 and served on the board of directors of Continental Airlines, Inc. since 2004. Munoz is active in several industry coalitions and philanthropic and educational organizations including the University of North Florida's board of trustees and the PAFA advisory board of Vanderbilt University.
Munoz graduated from the University of Southern California with a bachelor's degree in business administration, and he received a master's in business administration from Pepperdine University. Munoz has been named one of the "100 Most Influential Hispanics" by Hispanic Business magazine.
The company also announced that its executive vice president of communications and government affairs and its senior vice president of corporate and government affairs have stepped down. The departures announced today are in connection with the company's previously disclosed internal investigation related to the federal investigation associated with the Port Authority of New York and New Jersey. The investigations are ongoing and the company continues to cooperate with the government.
The company's internal investigation and the related circumstances do not raise any accounting or financial reporting concerns.
United Airlines will hold a conference call to discuss this announcement on Tuesday, September 8, at 4:30 p.m. CT/5:30 p.m. ET. A live, listen-only webcast of the conference call will be available at ir.united.com. The webcast will be available for replay within 24 hours of the conference call and then archived on the website for a limited time.
Posted on 9/8/15 at 4:42 pm to DWaginHTown
I have a special hatred for united. And smisek DGAF about his customers. Although I did see him take a middle seat on a IAD-Chicago leg, which was cool.
Posted on 9/8/15 at 5:13 pm to DWaginHTown
I always knew Smisek was slimy. He just looked that way
Posted on 9/8/15 at 7:11 pm to Hawkeye95
Ya, I've not had much in the way of problems with them but I'm no road warrior and they obviously hate United. Can only go up from here right?....right?
I will say the new 737-900 from EWR to MSY was nice today.
I will say the new 737-900 from EWR to MSY was nice today.
This post was edited on 9/8/15 at 7:34 pm
Posted on 9/9/15 at 12:14 pm to DWaginHTown
Better get that marketing team moving to edit him out of that in flight intro video that they play. I was on a flight this morning and he was still in there.
Posted on 9/9/15 at 12:48 pm to DWaginHTown
Ex Continental/United Gold/Plat one pass member. Continental was great and the merger with United, that Jeff orchestrated, was a cluster and the new United is a customer service nightmare. I now fly SWA now and am still pissed off about that merger.
That being said, I hate all domestic airlines because I am on those bitches every week.
That being said, I hate all domestic airlines because I am on those bitches every week.
Posted on 9/10/15 at 6:34 am to cuyahoga tiger
I've flown almost a million miles on United and it is the worst vendor of any I do business with, and I'm including every vendor in every aspect of my life. I've stopped flying them completely. I've never seen a business so blatantly disregard its customers as thoroughly and consistently as United does.
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