Investing.com -- United Continental Holdings Inc (NYSE:UAL) CEO Jeff Smisek and two other company executives stepped down from their positions with the major airline carrier on Tuesday amid two ongoing Federal investigations.
United also announced on Tuesday that its executive vice president of communications and government affairs and its senior vice president of corporate and government affairs have stepped down from their positions. The departures are in connection with the company’s previously disclosed internal investigation related to the federal investigation associated with the Port Authority of New York and New Jersey. The investigations are ongoing and the company continues to cooperate with the government, United said in a statement.
In March, 2014, David Samson, the former chairman of the Port Authority, resigned in the midst of the Bridgegate investigation. Earlier in the year, aides of New Jersey governor Chris Christie allegedly ordered the closure of several lanes of the George Washington Bridge in revenge against a Democratic leader who didn't endorse Christie in his re-election campaign. Samson is allegedly under investigation for using his influence to convince United to schedule a flight from Newark Airport to South Carolina, where he owned a home.
Separately, United announced on Tuesday that Oscar Munoz will become the company's CEO and president, succeeding Smisek.
“Oscar’s track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United’s upward trajectory. United is well positioned to continue executing on its strategic plan to further improve performance and the value and service it provides to its customers," said Henry Meyer, United Continental Holdings non-executive chairman of the boardI, in a statement. "I’m honored to have been elected non-executive chairman by my fellow directors. The board thanks Jeff for his service to both United Airlines and Continental Airlines.”
Previously, Munoz served as the president and COO of CSX Corporation (NYSE:CSX).
“It is truly a privilege to serve as United’s CEO. United has an incredible opportunity for improving an experience that is essential to the vitality of global business and to the personal lives of millions of people, for innovation, and for earnings growth,” Munoz said in a statement. “In my years serving on the board, I have been impressed by the dedication and skill of my new coworkers. Together, we will make United the top-performing airline.”