NYTimes.com Article: Delta Air Lines’ CEO to Step Down

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Delta Air Lines’ CEO to Step Down

November 24, 2003
 By THE ASSOCIATED PRESS





Filed at 7:44 a.m. ET

ATLANTA (AP) -- Delta Air Lines' boss Leo F. Mullins will
step down as chief executive on Jan. 1 and leave as
chairman after the company's annual shareholders' meeting
in late April.

The announcement Monday comes as the nation's third largest
carrier is seeking wage concessions from its pilots, has
warned of the possibility of further job cuts and is
recovering from controversy over the compensation of top
executives.

Atlanta-based Delta's board named Gerald Grinstein, a
16-year member of the board, as Mullins' replacement as
CEO. It said John F. Smith Jr., a former chairman and CEO
of General Motors Corp., would take over as chairman of the
board at the April shareholders' meeting.

According to a news release, Mullins' decision followed
discussions he initiated with Delta's board earlier this
year regarding his desire to retire.

Mullin and the board finalized the move at a meeting on
Sunday.

``Delta is at a transition point between the good work of
the past and the hard tasks ahead,'' said Mullin. ``This is
a good time for me to move on to new challenges.''

Delta offers 6,408 flights each day to 457 destinations in
82 countries on Delta, Song, Delta Shuttle, Delta
Connection and Delta's worldwide partners.

http://www.nytimes.com/aponline/business/AP-Delta-CEO.html?ex=1070682174&ei=1&en=aafb89bd12f948c3


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