Mike Gunn has talked of retirement for a number of years. He and his wife have been builing a house out west. He has said for sometime. when it was done he was done.
Don Carty wouldn't want Mike Gunn out. The marketing team he leads has made a huge difference in our company. look no further than than those 2 post 9/11 commercials. To see the quality of him and his staff.
Total Stock Buys $0.00
Total Stock Sales $6,602,961.00
Total Shares Bought: 0
Total Shares Sold: 251,009
Average Price Per Share Sold since 1985: $26.30
Now, FAMikey, I appreciate that you would like to credit a couple of post 9/11 commercials to Gunn, and not the actual advertising agencies that created them (using more than ten year old footage I might add) but clearly this looks like a guy who has had no confidence in the company since he started working for it. He's never left any stock incentives in the company to invest in it's future, always cashing out as soon as he gets it.
At least post 9/11, although it was a publicity stunt, Carty bought 40,000 shares of stock in the company and still holds it, even though it has lost 75% of it's value.
Gunn has dumped his stock as low as $7.10 per share and as high as $119.65 per share. He doesn't seem to care what the price is as soon as it's given to him, he dumps it. The bulk of his stock sales, 225,705 shares took place post 9/11, a time when the company did not need any of it's officers making such a public showing of no confidence.
The retirement was more than likely forced, and if not, would have been. Look for a few more in the top brass positions to be wearing out some shoe leather soon also. I'm just surprised that they slid Smilin' Dan Garton into Gunns position so quickly!
In the WSJ article following the announced restructuring plans, the company stated that they were transitioning from a pursuit of yields to one of efficiency: ergo the flattening of the ORD/DFW hubs and the stanardization of the fleet types and interiors.
It is just as possible that scenario three resulted: Everyone saw that they had done what they set out to do and it was time to reset the table for a different game plan. Thanks for a job well done/I've done what I set out to do---so on and so forth.
What cannot be ruled out is a return to some sort of yield pursuit when everything has been validated as operating as efficiently as possible and there appears to be enough elasticity with respect to price for justification of the expense.
The ideas and concepts are done in house. Timberlan/Mc Clain do the shooting and producing of them. There is also far more in this dept, Than TV ads. There is Radio, print, as well as there work on the Advantage program. Flight service also falls in to the marketing dept.
I wish Mr.Gunn many smiles in his golden years..I as an AAer will not be sad to see him go..AAs marketing has been sluggish and outdated for years...new blood will be good for the company and its image at this point..There have been many misssed oppertunities under Gunn..he was part of the good old boys network...a yes man to uncle bob..and I think bitter he did not get Cartys position when he left...I have always found AA mkting dep under him weak..I beleive the new campaign..(print) was from the newbies in HDQ..and I like it...bold..new and i hope consistent into the future!