See the news release below. Interesting. David Siegel did a very good job at
Continental Express. Best of luck to him sorting out the mess at US Airways,
Best regards,
Stefano Pagiola
My opinions alone
US AIRWAYS NAMES DAVID N. SIEGEL PRESIDENT AND CEO
ARLINGTON, Va., March 6, 2002 --US Airways Group
?s board of directors today
named David N. Siegel president and chief executive officer and board member of
both the holding company and its US Airways, Inc. airline unit. Stephen M. Wolf
will retain the title of chairman of both companies in a non-executive
capacity. Wolf, 60, reassumed the position of CEO of US Airways Group and US
Airways, Inc. in November 2001 following Rakesh Gangwal?s resignation from the
company.
Siegel, 40, is currently chairman and CEO of Avis Rent A Car System, Inc.,
a subsidiary of Cendant Corp., and has extensive experience in the airline
industry, having spent seven years at Continental Airlines in various senior
management roles, including president of its Continental Express subsidiary.
?We are extremely pleased to announce that an executive of Dave Siegel?s
abilities and energy will be joining US Airways as chief executive officer. He
brings a broad understanding of the business, a proven track record of
accomplishment, and, importantly, exceptional skills in working with people,?
Wolf said.
?While this is a particularly challenging time for the airline industry,
I?m delighted to return to commercial aviation, where I spent much of my
career,? said Siegel. ?I have long viewed US Airways as an airline with a
strong franchise and tremendous potential, and I look forward to working with
the company?s 36,000 employees in charting our future direction.?
As president of Continental Express from 1995-1999, Siegel improved the
unit?s profit contribution by $250 million annually and led its substantial
improvements in operational performance. He also negotiated the largest
aircraft order at the time in the regional airline industry as the launch
customer for Embraer 145/135 regional jets.
At Continental Airlines, he also served as senior vice president of
planning and scheduling, where he played an instrumental role in Continental?s
financial and operational turnaround, and as vice president of corporate
development. Prior to joining Continental, he served as director of corporate
planning at Northwest Airlines. Before joining Avis, he held executive
positions at Budget Group and eVolution Global Partners, a corporate venture
capital firm. He began his career as a consultant at Bain & Co.
Siegel earned a master?s degree in business administration from Harvard
Business School and a bachelor of science degree, magna cum laude, in applied
mathematics-economics from Brown University. Siegel, his wife and daughter will
relocate to the Washington, D.C., area.