United Airlines CEO Oscar Munoz will step down from running the airline in May, the company says
Munoz will become chairman of the airline, and he will be succeeded as CEO by Scott Kirby. Kirby has been president of United since the airline wooed him away from rival American Airlines three years ago.Munoz is best known for being the face of the airline during the public relations debacle, when a passenger was dragged off an overbooked flight in April of 2017. In the face of outrage he testified before Congress that"we had a horrible failure.
The stock has risen 54% during Munoz's more-than four years on the job. It's been a generally good time for airline stocks in an age of consolidation of the US industry, and a strong economy lifting travel demand and fares.Read MoreUnited passenger David Dao says he 'just cried' after he saw video of himself being dragged off a planeMunoz's tenure at United started with another controversy, in which his predecessor Jeff Smisek and two other executives left in September 2015.
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