20 July 2009

Continental CEO to step down

Continental Airlines’ chairman and CEO Larry Kellner is to step down after 14 years.

He is to leave the carrier at the end of the year and will be succeeded by Jeff Smisek, Continental's president and chief operating officer.

Kellner is to head Emerald Creek Group, a new private investment firm based in Houston.

He said: "While I will deeply miss my co-workers at Continental, it is the right time for this transition.

"Continental has gained approval from DOT of our Star Alliance application, which will allow us to continue as an effective global competitor."

Smisek said: "Over the next several months, Larry and I will work together to ensure a smooth transition.

"Our entire team will remain focused on returning our company to profitability, and Continental's great culture will continue to be the driving force of the company's long-term success."

by Phil Davies

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