59.9 F
Fort Worth
Wednesday, November 25, 2020
Transportation Southwest makes executive changes with an eye on succession
Transportation Southwest makes executive changes with an eye on succession

Southwest makes executive changes with an eye on succession

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) β€” Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

DALLAS (AP) β€” Southwest Airlines Co. is making changes in the front office that could offer clues as to who will eventually succeed Gary Kelly as CEO and chairman.

The company said Tuesday that it promoted Thomas Nealon, 55, to president, a title that Kelly had held. Nealon is a former Southwest chief information officer and board member who rejoined the company a year ago in a strategy job.

Nealon and Michael Van de Ven, also 55 and the airline’s chief operating officer, will both report to Kelly, who has led the Dallas-based airline for 12 years. Kelly described the arrangement as a three-headed office of the CEO.

Southwest does not have a mandatory retirement age for executives. Kelly, 61, said he plans to stay on for several more years. But, he added, “I’m not getting any younger” and said he didn’t want to leave the company unprepared to pick a successor.

While Kelly repeatedly invoked succession in announcing the changes, he said other executives could still emerge as potential leaders.

“We don’t have an heir apparent. This is not a desire to set up a horse race,” he said. “We are not appointing a CEO successor today.”

Nealon left an executive job at Southwest to join J.C. Penney Co., then spent several years at technology consultants The Feld Group Institute. Van de Ven has been at Southwest for 23 years with jobs in audit, finance and operations. Kelly said Tuesday’s changes would give him more responsibilities.

Southwest is the nation’s fourth-biggest airline although it carries more domestic passengers than anyone else. In trading before the executive changes were announced, the shares rose $1.04, or 2.1 percent, to close at $51.34. They gained 22 percent in the last 12 months.


Oh hi there πŸ‘‹
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

GM to recall 7M vehicles globally to replace Takata air bags

DETROIT (AP) β€” General Motors will recall about 7 million big pickup trucks and SUVs worldwide to replace potentially dangerous Takata air bag inflators. The...

New law seeks additional fees on electric vehicles. Here’s how many EVs are in Fort Worth and how much it can cost

A Texan lawmaker is attempting to levy additional fees on electric vehicles (EV) that could cost North Texas EV drivers collectively more than $2.5...

GM: New batteries cut electric car costs, increase range

DETROIT (AP) β€” General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those...

More than eight years in, Texas high-speed rail company still lacks permits to build Dallas-to-Houston route

By Juan Pablo Garnham, The Texas Tribune Nov. 17, 2020 "More than eight years in, Texas high-speed rail company still lacks permits to build Dallas-to-Houston...

Tarrant County offered free rides to the polls and voters hopped on board

In a year of record voter turnout, there were more than 5,800 trips to the polls under a program funded by Tarrant County.The Tarrant...