- Push-out Score determined
- After about five years in the position
- Praise and thanks for Munoz
- Scott Kirby taking over
- Munoz will remain as Executive Chairman of the Board of Directors at United Airlines
- Munoz made a lengthy statement and said 207 words
(exechange) — Chicago, Illinois, December 5, 2019 — Oscar Munoz, chief executive of United Airlines, leaves his position. As announced by United Airlines Holdings Inc. in a news release on Thursday, December 5, 2019, Oscar Munoz leaves his post as Chief Executive Officer at the airline holding company after about five years in the role, effective following the company’s Annual Meeting of Shareholders, scheduled for May 20, 2020.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.5 years, according to data compiled by exechange.
The announcement of Oscar Munoz’s move comes 19 months after Jane Garvey took over as Chairman of United Airlines Holdings, Inc.
Oscar Munoz’s duties as CEO will be taken over by J.Scott Kirby, currently President of United Airlines Holdings, Inc.
“Now is the right time”
Oscar Munoz’s departure from the CEO post is explained as follows. Munoz said: “With United in a stronger position than ever, now is the right time to begin the process of passing the baton to a new leader.”
Munoz will remain as Executive Chairman of the Board of Directors at United Airlines
“Oscar Munoz, Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors of United Airlines Holdings, Inc. in May 2020. Munoz will serve as Executive Chairman for a one-year term and will continue to work closely with Kirby, the Board and the United team in shaping United’s employee and customer-centric culture. He will also lead the company’s Board and continue to engage on behalf of United with a range of external stakeholders,” United Airlines said.
Share price increase since September 2015
The announcement follows an increase in United Airlines Holdings, Inc.’s share price of 56% since September 2015.
Chaired by Jane Garvey
United Airlines Holdings, Inc. is chaired by Jane Garvey.
Garvey has served as Chairman of the United Airlines Holdings, Inc. Board of Directors since May 2018.
In the position of CEO since 2015
Oscar Munoz became CEO of the Company in 2015.
Select Business Experience:
- Chief Executive Officer of the Company (Sept. 2015-present)
- President of the Company (Sept. 2015-Aug. 2016)
- President and Chief Operating Officer of CSX Corporation (“CSX”) (railroad and intermodal transportation services company) (Feb. 2015-Sept. 2015)
- Executive Vice President and Chief Operating Officer of CSX (2012-2015)
- Executive Vice President and Chief Financial Officer of CSX (2003-2012)
Past Public Company Directorships:
- CSX (Feb. 2015-Sept. 2015)
- Continental (2004-2010)
As the Company’s Chief Executive Officer, Munoz is responsible for the Company’s business and ongoing operations and management’s efforts to implement the strategic priorities identified by the Board.
Prior to joining the Company, Munoz served as the President and Chief Operating Officer of CSX from February 2015 until September 2015, with responsibility for managing all aspects of CSX’s operations across its 21,000-mile network, including transportation, service design, customer service, engineering, mechanical and technology.
In this role, Munoz also oversaw sales and marketing, human resources and information technology. Immediately prior to this role, Munoz served as Executive Vice President and Chief Operating Officer of CSX.
Munoz also previously served as Executive Vice President and Chief Financial Officer of CSX, with responsibility for management and oversight of all financial, strategic planning, information technology, purchasing and real estate activities of CSX.
In addition, he developed extensive experience in the airline industry during his six years of service on the Continental board of directors.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to United Airlines and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 49.2019 ($).