Delta's plans succession
Delta Air Lines chief executive Jerry Grinstein is expected to step down shortly as the carrier, newly emerged from bankruptcy reorganisation, looks toward a successor.
Delta's board of directors has scheduled meetings at which the succession issue could be determined. The board, it has emerged, will consider whether to launch a search for an outsider to step in or whether to promote from within the airline's own ranks.
Delta had been widely expected to name one of two insiders to succeed Grinstein, and they are still considered leading candidates.
Grinstein, a retired chief executive of Western Airlines (acquired by Delta in 1987) and of the Burlington Northern Railway, has praised both Jim Whitehurst, Delta's chief operating officer, and Ed Bastian, Delta's chief financial officer and executive vice-president.
Whitehurst, 39, earlier worked as an airline industry consultant, gaining the reputation of an expert in international alliances, route planning and strategy, while Bastian, 49, worked in finance at Delta earlier.
Whitehurst had been responsible for Delta's corporate strategy as well as network and revenue management. Bastian joined Delta in 1998, left the airline in early 2005 but returned two months before its September 2005 bankruptcy filing. He has also worked at snack food maker Frito-Lay, a unit of PepsiCo that is noted for brand management.
Delta's board of directors is largely new, with seven of its 11 members joining from outside the company. One of the new directors, healthcare executive Richard Anderson, was the chief executive of Northwest Airlines until late 2004, while the Delta board will be led by the retired chairman and chief executive of Eastman Kodak, Daniel Carp.
Despite stepping down as chief executive, Grinstein remains on the board. He has chaired the board's executive sessions since 1999.
Source: Airline Business
