New DL CEO

[NewHampshire Black Bears]

The WSJ is reporting that Richard Anderson will become the new/next CEO !

Anderson was the former CEO of NW(before Steenland)

From what I know of Anderson, he's exibited a "knack" of knowing just the right time to "depart", and just the right time to "arrive".

Bottom line; I think DL could have done worse, but I'll defer to our resident NW poster KEV3188.

 

[Kev3188]

Yep, DL definitely could've done worse...

His roots are at the "old" CO, which should leave a bad taste in some people's mouths, and it was he who was at the helm as we started the long downward slide into BK, but he's charismatic; something you will *never* hear Steenland described as. IIRC, it was also he who presided over our choosing the A330 instead of the 777, something that seems to me to have made sense in hindsight.

I have a feeling that he would have been more proactive in working things out with Labor, whereas Steenland is always reactive (and usually falls flat).

For what it's worth, I didn't much mind Anderson. Every question I ever e-mailed him (no matter how incendiary), always got a well balanced response...even if I didn't like the answer. That's obviously not much to grade a CEO on, but it's just my .02.

 

[dariencc]

Interesting development. Looks like the board isn't as thrilled with Gerry and his team as some on this board believed. It's also been mentioned on this website that the board and the stakeholders they answer to ain't real thrilled that current valuations are below what LCC offered, and dropping fast. Business always has a lot of twists and turns, funny how some can only see every development through the prism of their own little world.



Former Northwest CEO Becomes Delta Chief
Hiring Of Richard Anderson Could Revive Speculation Of Delta-Northwest Merger


ATLANTA, Aug. 21, 2007



Fast Fact

The change at the top at Delta follows the airline's 19½-month reorganization under bankruptcy protection.



(AP) Delta Air Lines Inc. named former Northwest Airlines Corp. Chief Executive Richard Anderson as its new leader on Tuesday afternoon.

Anderson, currently a board member at Delta and an executive at UnitedHealth Group Inc., will replace Gerald Grinstein as Delta's CEO. Grinstein has said previously that he would step down once his successor was named.

Anderson will become CEO effective Sept. 1. With the appointment, Grinstein, 75, will retire from Delta and from its board.

Grinstein had lobbied Delta's board to tap an insider from the company as his replacement. The top internal candidates had been Chief Financial Officer Ed Bastian and Chief Operating Officer James Whitehurst.

Delta said in a statement that Anderson "brings a unique depth of experience to the position, having served in top jobs for several major U.S. corporations."

The board's chairman, Daniel A. Carp, said Anderson, 52, "possesses the right blend of seasoned leadership, strategic skills, international experience and airline knowledge the company needs to navigate the industry's challenges and capitalize on its opportunities."

The move could revive speculation in a possible merger between Atlanta-based Delta and Eagan, Minn.-based Northwest.

Delta said Tuesday that Bastian will add the title president to his duties. The company did not say anything about Whitehurst.

Anderson has worked at UnitedHealth for nearly three years. Before joining UnitedHealth, he was CEO of Northwest Airlines from 2001-2004. He also serves as a director of Cargill Inc. and Medtronic Inc., according to Delta's Web site.

The change at the top at Delta follows the airline's 19½-month reorganization under bankruptcy protection.

Delta entered Chapter 11 on Sept. 14, 2005. The company emerged on April 30.

In bankruptcy, Delta shed billions in costs and restructured the carrier's operations. It also survived a hostile takeover bid by Tempe, Ariz.-based US Airways Group Inc.

Delta executives, faced with questions about a post-bankruptcy valuation below what they initially projected and below what US Airways offered for Delta, have declined to speculate about whether the airline would consider a merger with another carrier to increase shareholder value.

Besides finding a new CEO, Delta's board also has to decide whether to sell or spin off regional feeder carrier Comair. The airline has not provided a specific timetable for that decision.

©MMVII, The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

 

[luv2fly]

What's the matter darien? Still PO'd that your drunk of a CEO didn't get his hands on DL?
Not a day goes by that DL employees don't thank their lucky stars they didn't get caught up in the cancer of the airline industry known as US Airways.

 

[dariencc]

What's the matter darien? Still PO'd that your drunk of a CEO didn't get his hands on DL?
Not a day goes by that DL employees don't thank their lucky stars they didn't get caught up in the cancer of the airline industry known as US Airways.

See what I mean? Some people see every event as a threat to their ego that must be defended at all cost.

 

[tech2101]

The WSJ is reporting that Richard Anderson will become the new/next CEO !

Anderson was the former CEO of NW(before Steenland)

From what I know of Anderson, he's exibited a "knack" of knowing just the right time to "depart", and just the right time to "arrive".

Bottom line; I think DL could have done worse, but I'll defer to our resident NW poster KEV3188.

Although Steenland is far worse than Anderson...remember where he cut his teeth. Some of us remember this guy from our EAL freinds. His tenure at CAL was under Larenzo during the EAL debacle. h34r:

Richard H. Anderson (1956–)

Chief executive officer, Northwest Airlines

Nationality: American.

Born: 1956, in Galveston, Texas.

Education: University of Houston, BS, 1979; South Texas College of Law, JD, 1982.

Family: Son of Richard Anderson.

Career: Harris County Criminal Court, Texas, 1978–1987, chief counsel, then assistant district attorney; Continental Airlines, 1987–1990, staff vice president and deputy general counsel (under frank Larenzo!); Northwest Airlines, 1990–1994, vice president and deputy general counsel; 1994–1996, senior vice president of labor relations; 1997–1998, senior vice president of technical operations and airport affairs; 1998, executive vice president of technical operations, flight operations, and airport affairs; 1998–2001, executive vice president and COO of facilities, airport affairs, and regulatory compliance; 2001–, CEO.

 

[luv2fly]

See what I mean? Some people see every event as a threat to their ego that must be defended at all cost.

Ok darien, if the board is not "thrilled" as you claimed, why then has Bastain been retained as President?
The board valued Delta's proposal as being more realistic than LCC's and knew the DOJ's review of the merge would have extended DL's exposure to the BK process. In addition, as you already know as it was discussed ad nauseam with your buds USA320 and Ralph Cramden, the DOJ would have demanded giving up significant route structure in order approve the proposed merge.
The stakeholders you refer to were hedge funds that only saw the short sighted gain of LCC's proposal. Not the BOD. The BOD supported DL's decision to stand alone so your statement is just flat out wrong.
If anything, the current insanity taking place at US Airways only serves to prove that the official creditors comittee made the correct decision.
Anderson will most likely continue to build up DL's international presence, particularly to the East. Once again in line with the current team's strategy. Of course there is now speculation that this sets up a proposed merge b/w DL and NW. A merge that would make sense compared to the delusional one proposed by your buddy Parker.
Do you really want to start discussing valuations?LCC
Who's prism are you looking through darien?

 

[donttouchthebeauty]

I think the choice for Anderson is a good one. I think it will be an end to the pep rally though... Delta will see new views instead of "good ole boys" views and it will be a good thing. However it is an indirect slap in the face, all of the talk about Grinsteins succesor coming from inside the airline, and it didn't happen... I see it as the board saying, "what goes around comes around" with Justin Timberlake singing in the background. It should be interesting.

 

[CLT-Douglas]

A new CEO. I guess that means another change in the paint scheme.

 

[whatkindoffreshhell]

Andersen will prove to be the incorrect choice. Very poor choice by the BOD. Probably spearheaded by a creditor patron.

Either Whitehurst or Bastian should have been anointed by Grinstein. He didn't and these two will be gone.

And before DL & NW can merge there will be a fire-sale by Tilton at UA. Which would be bad for the industry but good for the top 400 at UA.....

 

[luv2fly]

Andersen will prove to be the incorrect choice. Very poor choice by the BOD. Probably spearheaded by a creditor patron.

Either Whitehurst or Bastian should have been anointed by Grinstein. He didn't and these two will be gone.

And before DL & NW can merge there will be a fire-sale by Tilton at UA. Which would be bad for the industry but good for the top 400 at UA.....

An incorrect choice for the employees perhaps. Not in Wall Streets eyes. You have to believe that a merge will most likely happen at some point b/w DL and NW. A merge that in terms of route structure would prove to be quite lucrative. Fleet types are of course imcompatible.
Bastain as you now know has been promoted to the position of President. Whitehurst would have been the employee choice but we all know how much input the employees get. Earlier reports that Whitehurst resigned immediately were unsubstantiated, however I would be suprised if he elected to stay.

 

[DCaf]

Delta executives, faced with questions about a post-bankruptcy valuation below what they initially projected and below what US Airways offered for Delta ...

B

Have there been any stockholder rumblings about this ? Anyone know?

 

[chucky]

Delta's CEO hire seen as sparking M&A

By Laura Mandaro, MarketWatch

(MarketWatch) -- Wall Street analysts lost no time Wednesday setting the odds of a coming mega-merger in the airlines industry, spurred by Delta Air Lines Inc.'s pick of an former Northwest Airlines Corp. boss as its next CEO.

Late Tuesday, Delta's board named 52-year-old Richard Anderson, a fellow board member and former chief executive of Northwest, to replace retiring Delta CEO Gerald Grinstein, age 75. The hiring adds another point in common to the two carriers, which declared bankruptcy on the same day in September 2005 and exited the courts' protection months apart earlier this year.
"Having two airline chiefs that understand one another may provide the best opportunity the industry has seen for reaching a friendly deal," said Bear Stearns analyst Frank Boroch in a note to investors Wednesday.
"With an intimate knowledge of [Northwest Airlines], Delta with Anderson at the helm could either be a difficult competitor or close partner," he said.
Calyon Securities analyst Ray Neidl increased his rating on Delta Air Lines to add from neutral, saying the stock looks cheap if ticket prices rise, oil prices fall, or investors get excited about industry consolidation.


Story


Like It or not DL is in bed with NW, whether thru a full merger or closer ties thru ATI. The current BOD chose Anderson for obvious reasons.

 

[NewHampshire Black Bears]

Andersen will prove to be the incorrect choice. Very poor choice by the BOD. Probably spearheaded by a creditor patron.

Either Whitehurst or Bastian should have been anointed by Grinstein. He didn't and these two will be gone.

And before DL & NW can merge there will be a fire-sale by Tilton at UA. Which would be bad for the industry but good for the top 400 at UA.....

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Did someone mention a......"fire sale" ??
GREAT !!

American Airlines likes Fire Sales
(Me too)

 

[donttouchthebeauty]

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Did someone mention a......"fire sale" ??
GREAT !!

American Airlines likes Fire Sales
(Me too)

LOL - I doubt AA will ever be allowed to buy anything ever again... UAL, may be up to something - but at this point i dont think being sold off is one of them ... But nice thoughts for you i am sure... I know you are dying to see your colors (or lack thereof) on a 747... If DAL and NWA marry - you can bet that CAL and UAL will be the next in bed together.... HHMMM who does that leave AA with??? Perhaps alaska- which would be a nice fit... Then we would all be happy.. Oh wait - you still need those pacific routes...