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American Airlines announced on Thursday that Doug Parker will retire as chairman on April 30.
Greg Smith, 56, who spent more than 30 years at Boeing, including the last 10 as CFO, has been named Parker’s successor at the head of the company’s board of directors.
Smith’s appointment is part of the board’s long-term succession planning process, according to the company. Last year, Robert Isom succeeded Parker as CEO in March.
“Our CEO transition has been flawless thanks to the great work of Robert Isom, his team and our board,” said Parker in a statement. “Now is the right time for our chairman transition and we are fortunate to have Greg Smith in place to assume that role.
“Greg has made outstanding contributions since joining American’s board, and his strong knowledge of the aviation industry and his decades of leadership experience will be invaluable going forward.”
Smith joined American’s board in January 2022. He most recently served as Boeing’s executive vice president and CFO, leading the company’s enterprise operations, finance, strategy and shared services organizations. He managed Boeing’s overall financial activities and had oversight of the company’s manufacturing, operations, supply chain, quality and program management teams.
“It’s an honor and privilege to serve as a board member and now as chairman of this iconic company,” said Smith. “Due to the leadership and dedication of Doug, Robert and the entire American team, we are well positioned to take the airline to the next level of excellence. The board and I look forward to working with Robert and this great team as we lead American Airlines into the future.”
Parker, 61, was CEO of US Airways when he engineered a 2013 merger that put him and his executive team in charge of American Airlines, which was just emerging from bankruptcy protection.
Parker’s tenure as CEO was mostly a highly profitable period for American, but the airline struggled with more debt than its rivals, even before the pandemic that devastated the U.S. travel industry in early 2020. Also, American's relations with its labor unions worsened, and the federal government sued to kill a partnership with JetBlue in the New York and Boston.
Said Isom, American president from 2016-22: “The American Airlines team will be forever grateful to Doug for building our airline into what it is today. On a personal note, I’m thankful for Doug’s partnership over the past year as I took on the CEO role. I look forward to continuing to work with the board and Greg in his new role as we shape the American Airlines of the future.”
In addition, American also announced that longtime board members Ray Robinson and Jim Albaugh will not seek reelection this spring.