United Airlines chief resigns
Jack Creighton, United Airlines chairman and chief executive officer, has unexpectedly resigned from the troubled airline.
Mr Creighton took over as CEO and chairman in October from Jim Goodwin, who had been forced out by employees who own 55 per cent of the company.
Following the board’s announcement of his resignation, Mr Creighton said: “I was brought in for the short term to stabilize United and improve the relationship between management and employees. We have made some important strides in each of these areas, and I will continue to focus on those priorities as we search for my replacement.
“In the weeks and months ahead, I will work to help find the best CEO for United. At the same time, I will work with the leadership of our unions to find ways to assure the viability of this great company.
“We confront huge challenges, and we must secure the cooperation and support of our employees if we are to succeed.”
Shares in UAL, the parent of United Airlines, fell sharply in New York as investors reacted with dismay to Mr Creighton’s resignation. The shares fell by 5.5 per cent in New York in midday trading on Wednesday to $13.31.
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22-Apr-2002 United Airlines reports large Q1 loss
5-Apr-2002 United/ bmi alliance receives antitrust immunity
25-Mar-2002 United Airlines to bring back axed staff
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