From tonight's Atlanta Journal-Constitution "Breaking News" e-mail: "Delta Air Lines Chief Executive Gerald Grinstein expects to stay at the carrier's helm through its Chapter 11 case and then step down after the company emerges from bankruptcy court, probably early next year, according to published reports." This lead me to: http://www.ajc.com/business/content/business/delta/stories/2006/10/12/1012bizgrinstein.html?cxntnid=bn101206e Delta's Grinstein plans to exit after Ch. 11 case By RUSSELL GRANTHAM The Atlanta Journal-Constitution Published on: 10/12/06 Delta Air Lines Chief Executive Gerald Grinstein expects to stay at the carrier's helm through its Chapter 11 case and then step down after the company emerges from bankruptcy court, probably early next year, he said Thursday. But the 74-year-old executive, whose longevity in the job has been a topic of speculation ever since he took it nearly three years ago, sidestepped questions about a succession plan. "That's up to the board," Grinstein said during an appearance in New York to announce Delta's latest expansion of its international route network. His comments were reported by wire services. Grinstein said he expects Delta, which entered Chapter 11 a little over a year ago, to emerge from bankruptcy early next year, and that he plans to remain CEO until then. "Then I will wander off into the sunset some place. . . I'm not saying I'm out the door immediately after" Delta emerges, he said, according to Dow Jones. Grinstein has said he hopes to hand control of Delta to an internal successor. He has mentioned Chief Operating Officer Jim Whitehurst and Chief Financial Officer Ed Bastian, implying they are two viable candidates. Grinstein stepped in as CEO at the beginning of 2004 after a management shake-up, after years as an influential member of the board of directors. At the time he said he expected to keep the CEO job two or three years. Delta's creditors will have a lot to say on the succession issue and may push for a seasoned top executive from outside. The decision will ultimately have to be approved by a new board of directors constituted when Delta emerges from bankruptcy, unless Grinstein leaves earlier. Also during the New York appearance, Grinstein said the company has no plans to sell its regional subsidiary Comair, and that he does not anticipate any more big layoffs. Grinstein said that while he received "feelers" from United Airlines about a possible merger 18 months ago, he quickly rejected them. He reiterated that Delta has no plans for a merger and that, in his view, predictions about coming acquisitions and consolidation in the industry are likely wrong in the near term. Grinstein on Thursday announced expanded and new international service, part of a continuing makeover into a more international-focused carrier. Delta is still on track for an exit from Chapter 11 bankruptcy protection in the first half of 2007, Grinstein said. Soon after, he plans to retire, he said. He didn't give a date. "I think it's quits this time," he said. The board has not yet decided on his successor, he said. Grinstein said he thinks the airline industry will look much the same in two years as today, with about the same number of network carriers and hubs. That runs against healthy speculation of possible mergers; United Airlines' reported hiring of an investment bank last month helped fuel the rumor flames. If consolidation does occur, Grinstein said it could happen as airlines acquire portions of others, rather than swallowing whole companies. Even if it does occur, he said it would not necessarily create a cascade that forces everyone to follow. "If you go back over the (the industry's) history, you see lots and lots of mergers," he said, "and very few of them were successful." ? The Associated Press contributed to this report