Lakefield urges employees to look forward, not back
ARLINGTON (US Airways Update) – New president and chief executive officer Bruce Lakefield has called on employees to “put the past behind and look ahead as we continue to build a new US Airways.â€
In a letter and telephone hotline message, his first communications to the employee group since he was named president of CEO on April 19, Lakefield said US Airways must continue efforts to reduce costs to competitive levels to meet the threat posed by low-cost airlines. “in your hear of hearts, we believe that most of you know this,†he wrote.
Lakefield said he recognized that the task ahead will be difficult. “Fundamental changes in the way we do business are necessary and, yes, participation again by our employees must be part of the answer. But you have my pledge that I am committed to finding the solutions, to working collegially with our labor leadership in tha search and to continuing to communicate with you,†he said.
In his phone message, Lakefield said he has strong first impressions about US Airways. “I am impressed by the passion that those of you whom I have met have about the company and your work. This is a dedicated, professional group, and earning your respect and trust is at the top of my list of priorities. You deserve no less,†he said. He added that US Airways has a “terrific East Coast franchise. That’s where the people and the money are, and we’re going to take more advantage of our positions.â€
The board, with the support of its labor representatives, endorsed a new business plan at its April meeting. Lakefield said the plan addresses US Airways’ need to reach competitive costs and also incorporates a platform for growth. However, before details can be shared, he said he will continue to work with the union representatives on the board to prepare for discussions with their labor groups as quickly as possible.
Chairman David Bronner called Lakefield an experienced and seasoned executive “who will work tirelessly for the airline and its customers, business partners and financial backers, employees and shareholders.â€
The Board of Directors named Lakefield to the president and CEO post following Dave Siegel’s resignation. Siegel said his decision to exercise his contractual rights to resign reflects a “belief that my leaving is in the best interests of the company.†He said he hoped his announcement is “the first step in a healing process that will enable the company to complete its restructuring.â€
Bronner said the board accepted Siegel’s resignation with regret, but that it shared his view that “this should be the start of healing process for labor and management.â€
Lakefield, 60, was appointed to the US Airways Board of Directors when it emerged from Chapter 11 in 2003, and he chaired its Strategy and Finance and Human Resources committees. Previously he was chairman and CEO of Lehman Brothers International from 1995 to 1999, when he retired. He has served as a senior advisor to the Investment Policy Committee of HGK Asset Management since 2000, and also serves as a non-executive director of Constellation Corp., PLC.
A native of New Jersey, Lakefield graduated from the U.S. Naval Academy in Annapolis in 1967, and spent four years in the Navy, serving as a kieutenant aboard the nuclear submarine USS Patrick Henry.
ARLINGTON (US Airways Update) – New president and chief executive officer Bruce Lakefield has called on employees to “put the past behind and look ahead as we continue to build a new US Airways.â€
In a letter and telephone hotline message, his first communications to the employee group since he was named president of CEO on April 19, Lakefield said US Airways must continue efforts to reduce costs to competitive levels to meet the threat posed by low-cost airlines. “in your hear of hearts, we believe that most of you know this,†he wrote.
Lakefield said he recognized that the task ahead will be difficult. “Fundamental changes in the way we do business are necessary and, yes, participation again by our employees must be part of the answer. But you have my pledge that I am committed to finding the solutions, to working collegially with our labor leadership in tha search and to continuing to communicate with you,†he said.
In his phone message, Lakefield said he has strong first impressions about US Airways. “I am impressed by the passion that those of you whom I have met have about the company and your work. This is a dedicated, professional group, and earning your respect and trust is at the top of my list of priorities. You deserve no less,†he said. He added that US Airways has a “terrific East Coast franchise. That’s where the people and the money are, and we’re going to take more advantage of our positions.â€
The board, with the support of its labor representatives, endorsed a new business plan at its April meeting. Lakefield said the plan addresses US Airways’ need to reach competitive costs and also incorporates a platform for growth. However, before details can be shared, he said he will continue to work with the union representatives on the board to prepare for discussions with their labor groups as quickly as possible.
Chairman David Bronner called Lakefield an experienced and seasoned executive “who will work tirelessly for the airline and its customers, business partners and financial backers, employees and shareholders.â€
The Board of Directors named Lakefield to the president and CEO post following Dave Siegel’s resignation. Siegel said his decision to exercise his contractual rights to resign reflects a “belief that my leaving is in the best interests of the company.†He said he hoped his announcement is “the first step in a healing process that will enable the company to complete its restructuring.â€
Bronner said the board accepted Siegel’s resignation with regret, but that it shared his view that “this should be the start of healing process for labor and management.â€
Lakefield, 60, was appointed to the US Airways Board of Directors when it emerged from Chapter 11 in 2003, and he chaired its Strategy and Finance and Human Resources committees. Previously he was chairman and CEO of Lehman Brothers International from 1995 to 1999, when he retired. He has served as a senior advisor to the Investment Policy Committee of HGK Asset Management since 2000, and also serves as a non-executive director of Constellation Corp., PLC.
A native of New Jersey, Lakefield graduated from the U.S. Naval Academy in Annapolis in 1967, and spent four years in the Navy, serving as a kieutenant aboard the nuclear submarine USS Patrick Henry.
