Mark Powers Retires From JetBlue CFO Role
September 13 2016 - 4:54PM
Business Wire
JetBlue Airways Corp. (NASDAQ:JBLU) today announced that Mark
Powers, executive vice president and chief financial officer, will
retire from the CFO role effective November 1, 2016. He will remain
an advisor to the company for one year.
Jim Leddy, JetBlue’s senior vice president and treasurer, will
serve as CFO on an interim basis following Powers’ November
retirement, subject to approval of the JetBlue Board of Directors
at its regular meeting next week.
“On behalf of JetBlue’s 19,000 crewmembers, I want to extend our
profound thanks to Mark for his decade of service to our company,”
said Robin Hayes, JetBlue’s president and chief executive officer.
“During Mark’s tenure JetBlue has nearly tripled in size in
crewmembers, fleet and network. At the same time, under Mark’s
leadership, we have grown revenue in excess of $4 billion, reduced
total debt by $800 million, grown free cash flow by $1.6 billion
and improved ROIC by nearly 12%. I appreciate Mark agreeing to
serve as an advisor for the next twelve months so we can continue
to benefit from his considerable experience.”
“JetBlue crewmembers are some of the most passionate
professionals I’ve had the pleasure to work with,” said Powers.
“It’s been an incredible honor to be part of the JetBlue team for
the past ten years and to be part of its growth and evolution.
JetBlue has matured rapidly and well. One of the things I’m most
proud of is our strong finance team which will serve JetBlue well
into the future.”
“Mark has been a key member of the JetBlue team over the past
decade of growth,” said Peter Boneparth, chair of the JetBlue Board
of Directors Audit Committee. “Under his seasoned leadership,
JetBlue has built a significantly stronger financial footing that
we believe will serve the company well into the future.”
Powers has spent more than 30 years in commercial aviation. He
has been JetBlue’s CFO since October 2011. He joined the company in
2006 as Treasurer. Prior to JetBlue, Powers held leadership roles
in finance and legal for Texas Air, Continental Airlines, Northwest
Airlines and General Electric’s jet engine unit.
About JetBlue
JetBlue is New York's Hometown Airline®, and a leading carrier
in Boston, Fort Lauderdale- Hollywood, Los Angeles (Long Beach),
Orlando, and San Juan. JetBlue carries more than 35 million
customers a year to 97 cities in the U.S., Caribbean, and Latin
America with an average of 925 daily flights. For more information
please visit jetblue.com.
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