New finance chiefs for Delta and US Airways
Michael Palumbo, an airline industry consultant in New York, is named as the new chief financial officer at Delta Air Lines, succeeding Michele Burns, who left Delta to join an energy firm.
Gerald Grinstein, Delta chief executive, describes Palumbo, 57, as a "seasoned expert in airline finance", with experience at TWA, Western Airlines and Pan American World Airways and in the airline finance practice at leading investment banking and consulting organisations. "Mike worked with me at Western and we know each other well. He has the experience and the skill to help guide Delta financially through our current difficulties and put us in position to regain profitability," he says. Delta bought Western in 1987.
Dave Davis has replaced former chief financial officer Neal Cohen. He joined US Airways in April 2002 and was most recently senior vice-president of finance. Cohen left voluntarily shortly after the resignation of chief executive David Siegel under union pressure. Davis had previously been vice-president financial planning and analysis for car hire giant Budget Group.
DAVID FIELD WASHINGTON
Source: Airline Business
