United Airlines CFO Levy resigns, and the company begins the search for a replacement

Key Points
  • United named its treasurer, Gerry Laderman, interim CFO.
  • The airline said it would "immediately" begin a search for a permanent replacement.
  • Levy is leaving the airline.
United CFO Andrew Levy departs
United CFO Andrew Levy departs

United Airlines Chief Financial Officer Andrew Levy has resigned and is leaving the company. The carrier will "immediately" begin a search for a permanent replacement, the airline said Thursday.

The airline's treasurer, Gerry Laderman, will take the role of interim CFO, the company said. United is the third-largest U.S. airline.

Levy had been in the job for less than two years, and Laderman had served as interim CFO before Levy, a former executive at discount carrier Allegiant Air, joined United in August 2016. United also hired Scott Kirby that month from rival American Airlines to be United's new president.

Gerry Laderman, United Airlines Executive Vice President and Chief Financial Officer
Source: United Airlines

"My decision to resign was reached after a great deal of thought during the past few months," Levy told some United employees in an e-mail, which was seen by CNBC. "I have some interesting opportunities and now is the right time for me to move forward."

He said it was an "honor" to serve as CFO.

Levy wrote on his LinkedIn page that he is "considering several exciting opportunities and will choose one in the coming weeks."

United CEO Oscar Munoz, who took the top job in September 2015 and has been tested by repeated public relations missteps and at times skeptical investors, thanked Levy for his service to the carrier.

"He leaves the company in a stronger financial position and with a clear strategy and framework in place," Munoz said in a statement.

Munoz said Laderman was highly qualified.

"Gerry's deep experience and financial acumen mean that he is ideally suited to lead our finance organization during this transitional period," Munoz said. "Gerry will work with the rest of the team to continue delivering on our financial strategy as we search for a permanent CFO."

United shares, which are up about 3 percent so far this year, were little changed in post-market trading.

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