JetBlue Airways (JBLU) Announces CFO Mark Powers to Retire
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
JetBlue Airways Corp. (NASDAQ: JBLU) today announced that Mark Powers, executive vice president and chief financial officer, will retire from the CFO role effective November 1, 2016. He will remain an advisor to the company for one year.
Jim Leddy, JetBlue’s senior vice president and treasurer, will serve as CFO on an interim basis following Powers’ November retirement, subject to approval of the JetBlue Board of Directors at its regular meeting next week.
“On behalf of JetBlue’s 19,000 crewmembers, I want to extend our profound thanks to Mark for his decade of service to our company,” said Robin Hayes, JetBlue’s president and chief executive officer. “During Mark’s tenure JetBlue has nearly tripled in size in crewmembers, fleet and network. At the same time, under Mark’s leadership, we have grown revenue in excess of $4 billion, reduced total debt by $800 million, grown free cash flow by $1.6 billion and improved ROIC by nearly 12%. I appreciate Mark agreeing to serve as an advisor for the next twelve months so we can continue to benefit from his considerable experience.”
“JetBlue crewmembers are some of the most passionate professionals I’ve had the pleasure to work with,” said Powers. “It’s been an incredible honor to be part of the JetBlue team for the past ten years and to be part of its growth and evolution. JetBlue has matured rapidly and well. One of the things I’m most proud of is our strong finance team which will serve JetBlue well into the future.”
“Mark has been a key member of the JetBlue team over the past decade of growth,” said Peter Boneparth, chair of the JetBlue Board of Directors Audit Committee. “Under his seasoned leadership, JetBlue has built a significantly stronger financial footing that we believe will serve the company well into the future.”
Powers has spent more than 30 years in commercial aviation. He has been JetBlue’s CFO since October 2011. He joined the company in 2006 as Treasurer. Prior to JetBlue, Powers held leadership roles in finance and legal for Texas Air, Continental Airlines, Northwest Airlines and General Electric’s jet engine unit.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Titan Int'l (TWI) Promotes Paul Reitz to Chief Executive Officer
- Burlington Stores (BURL) Director Cooper Resigns
- 21st Century Fox (FOXA) Confirms Agreement in Principle on Sky Acquisition
Create E-mail Alert Related CategoriesCorporate News, Management Changes, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!