Oscar Munoz steps down as CEO of United Airlines and will be replaced in May by President Scott Kirby, the architect of an aggressive effort to reclaim market share from other carriers
... [+]Oscar Munoz is stepping down as CEO of United Airlines after a dramatic four-year run in which he weathered multiple customer relations disasters and oversaw a return to growth at the third-largest U.S. airline by revenue. He will be replaced in May by President Scott Kirby, the architect of an aggressive effort to reclaim market share from other carriers, United announced Thursday morning. Munoz, 60, will become executive chairman of the board.
Wall Street analysts’ patience was wearing thin by the end of the year amid skepticism of a campaign spearheaded by Kirby to reclaim market share from other carriers by expanding service 4% to 6% a year through 2020, risking a fare war that could further hurt its thin profits. "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 said.
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