Jeff Smisek Steps Down as United CEO
United Continental Holdings announced Tuesday afternoon that Jeff Smisek is stepping down as the company’s chairman, president and CEO, effective immediately.
CSX Corp’s CEO Oscar Munoz has been named as Smisek’s replacement.
“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 Munoz. “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.”
[Photos: United Airlines]
Just my humble view, but perhaps the board should hire someone that is less involved in bribing the Port Authority mob and more time getting the United and Continental employees to work together for better service A N D getting United metal from place to place ON TIME. American businesses can be so stupid.
This new directive from the US DOJ could spell big trouble for the airline, Mr. Smisek and others. Interesting timing behind the memo becoming public the day after Mr. Smisek's departure. http://www.nytimes.com/2015/09/10/us/politics/new-justice-dept-rules-aimed-at-prosecuting-corporate-executives.html?hp&action=click&pgtype=Homepage&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0
It seems that he and two of his deputies were forced to resign or be fired due to the Port Authority issue involving adding flights to Columbia, SC in exchange for something at EWR.
His golden parachute is $5,000,000.00.
I must say, there is quite the buzz around Willis today...a breath of fresh air more or less.