United Figuring Out Next Steps After New CEO’s Hospitalization
United Continental Holdings, the parent of United Airlines, said it plans to release more details about how it will proceed following the sudden hospitalization of its new chief executive officer, Oscar Munoz, last week.
The Chicago-based airline has said little about Munoz’ hospitalization aside from a short statement issued on Friday.
Munoz, 56, suffered a heart attack after 37 days on the job. He took over as CEO after his predecessor, Jeff Smisek, was ousted by the board amidst an ongoing federal investigation that alleges improprieties between the airline and officials at the Port Authority of New York & New Jersey, which operates Newark Liberty International Airport.
“The Company anticipates it will today conclude the corporate governance process necessitated by the hospitalization of President and CEO, Oscar Munoz,” said Henry L. Meyer III, the airline’s non-executive chairman, on Monday. “The company expects to release more details either later today or tomorrow.”
Since assuming his duties, Munoz has been attempting a turnaround of the world’s second largest airline, which has been plagued with operational difficulties and poor labor relations since it was formed in 2010 when United Airlines and Continental Airlines merged.
(Photo: Accura Media Group)