A United Airlines aircraft is seen at the Monsenor Oscar Arnulfo Romero International Airport in San Luis Talpa, El Salvador, January 17, 2018. REUTERS/Jose Cabezas
May 17, 2018
By Alana Wise
NEW YORK (Reuters) – United Airlines’ <UAL.N> chief financial officer, Andrew Levy, is stepping down, the carrier said on Thursday, in a major management shuffle amid the airline’s lagging financial performance versus rivals.
Levy will be replaced in the interim by Gerry Laderman, a senior United executive, who had served as acting chief financial officer before Levy’s appointment.
“I personally want to thank Andrew for his contributions to United. He leaves the company in a stronger financial position and with a clear strategy and framework in place,” said Chief Executive Oscar Munoz.
Munoz said the shakeup does not affect the carrier’s prior financial guidance.
Levy took the reigns of United’s finances in August 2016 as part of a management makeover strategy by Munoz. The move was aimed at righting the airline’s course in a years-long struggle to match the profit margins and operational performance of larger rivals American Airlines <AAL.O> and Delta Air Lines <DAL.N>.
(Reporting by Alana Wise; Editing by Peter Cooney and Jonathan Oatis)