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United heralds return of CEO Oscar Munoz after heart transplant
UNITED Continental Holdings announced that its president and CEO Oscar Munoz plans to resume his role on a full-time basis on March 14 - two weeks ahead of schedule.
Mr Munoz, 56, had a heart transplant in January after a heart attack in October shortly after his appointment on the dismissal of Jeff Smisek, who had been implicated in a federal influence peddling investigation.
At the time, United did not reveal further medical details, but said Mr Munoz would return to work April 1.
"The board is very pleased that Oscar will be returning on a full-time basis," said non-executive chairman Henry Meyer.
"We expect him to continue improving operational and financial performance, driving increased shareholder value, and innovating and elevating United's customer and employee experience," he said.
Mr Meyer also extended the board's "sincere appreciation to Brett Hart for his superb leadership as acting CEO".
Said Mr Munoz: "I am thrilled to return full-time to a job and the employees I love."
He said that since September when he became CEO, the team has been focussed on improving the operation and customer experience.
"Results are starting to show. Over the past several months United has emerged as a top performer in on-time arrivals and completion factor among our largest industry peers," he said.
"Financially, we have been performing well. United's 2015 earnings were one of the best in the company's history, and we made significant progress shrinking the margin gap with our closest competitors, strengthening our balance sheet, and returning significant cash to shareholders," said Mr Munoz.
"United spent $1.2 billion repurchasing shares in 2015 and plans to spend $1.5 billion on share repurchases in the first quarter of 2016. We have a lot of positive momentum, but this is just the beginning. There is significant work underway and we see substantial upside yet to come," he said.
United Airlines and United Express operate an average 5,000 flights a day to 342 airports across six continents. In 2015, United and United Express operated nearly two million flights carrying 140 million customers and employs 84,000 people.
Mr Munoz, 56, had a heart transplant in January after a heart attack in October shortly after his appointment on the dismissal of Jeff Smisek, who had been implicated in a federal influence peddling investigation.
At the time, United did not reveal further medical details, but said Mr Munoz would return to work April 1.
"The board is very pleased that Oscar will be returning on a full-time basis," said non-executive chairman Henry Meyer.
"We expect him to continue improving operational and financial performance, driving increased shareholder value, and innovating and elevating United's customer and employee experience," he said.
Mr Meyer also extended the board's "sincere appreciation to Brett Hart for his superb leadership as acting CEO".
Said Mr Munoz: "I am thrilled to return full-time to a job and the employees I love."
He said that since September when he became CEO, the team has been focussed on improving the operation and customer experience.
"Results are starting to show. Over the past several months United has emerged as a top performer in on-time arrivals and completion factor among our largest industry peers," he said.
"Financially, we have been performing well. United's 2015 earnings were one of the best in the company's history, and we made significant progress shrinking the margin gap with our closest competitors, strengthening our balance sheet, and returning significant cash to shareholders," said Mr Munoz.
"United spent $1.2 billion repurchasing shares in 2015 and plans to spend $1.5 billion on share repurchases in the first quarter of 2016. We have a lot of positive momentum, but this is just the beginning. There is significant work underway and we see substantial upside yet to come," he said.
United Airlines and United Express operate an average 5,000 flights a day to 342 airports across six continents. In 2015, United and United Express operated nearly two million flights carrying 140 million customers and employs 84,000 people.
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