JetBlue Appoints Steve Priest as Chief Financial Officer
February 21 2017 - 8:15AM
Business Wire
Priest Brings 20 Years of Airline Experience,
Including Development of JetBlue’s Structural Cost Program
JetBlue (NASDAQ:JBLU) today announced that, after conducting a
rigorous internal and external search, it has promoted Steve Priest
to executive vice president and chief financial officer effective
immediately. Priest has more than 20 years of experience leading
financial, operational, and commercial aspects of the airline
business and most recently served as the airline’s vice president,
structural programs.
As CFO, Priest will oversee treasury, investor relations,
corporate tax, audit, accounting, financial planning and analysis,
fuel hedging, aircraft and materiel programs, insurance, financial
reporting, risk management, infrastructure (corporate real estate),
and strategic sourcing. He will also serve on JetBlue’s executive
leadership team and report to President and Chief Executive Officer
Robin Hayes.
“Steve quickly made an impact at JetBlue through his leadership
of priority initiatives aimed at establishing a sustainable
business for our future and creating value for our shareholders,”
Hayes said. “Steve is passionate about cost control and will be a
strong voice for costs as we manage our business. His experience at
British Airways and his leadership of JetBlue’s structural cost and
on-time performance programs, combined with his understanding of
our unique culture, positions him to deliver on our commitments to
shareholders, crewmembers and customers.”
Priest joined JetBlue in 2015 and in his most recent role was
responsible for JetBlue’s strategic sourcing efforts and for fleet
and engine strategy. He spearheaded high-priority change
initiatives including the launch of the airline’s on-time
performance program and structural cost initiative, which is set to
generate $250-$300 million in cost savings by 2020. In his new
role, he will continue to oversee the successful implementation of
the structural cost program.
“I’m proud of our early achievements in bringing increased focus
to our costs and look forward to successfully implementing our
capital allocation strategy,” Priest said. “One of my immediate
priorities will be to spend time with our shareholders as well as
our crewmembers to support our efforts to deliver better than
industry-average margins as we grow.”
Prior to JetBlue, Priest held positions of increasing
responsibility at British Airways from 1996 to 2015. Most recently,
he served as senior vice president, North Atlantic joint business
where he significantly grew unit revenue and market share with
partner airlines. He also served in senior roles in strategy and
planning; customer contact and distribution; and commercial and
call center operations. He served as regional vice president,
controller for Western Europe, Latin America, and Caribbean and as
chief financial officer for BA Ground Handling Services. He is a
graduate in economics and geography of Victoria University of
Manchester (UK) and a qualified Chartered Global Management
Accountant.
Priest will succeed Jim Leddy, who served as interim chief
financial officer since November. “We very much appreciate Jim’s
contribution to JetBlue and his stepping in as interim CFO to
oversee the function during this period,” Hayes said. Leddy will
help support JetBlue with the transition.
About JetBlue Airways
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 38 million customers a year to 100 cities in the
U.S., Caribbean, and Latin America with an average
of 925 daily flights. For more information please visit
jetblue.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170221005676/en/
JetBlue Corporate CommunicationsTel:
+1.718.709.3089corpcomm@jetblue.com
JetBlue Airways (NASDAQ:JBLU)
Historical Stock Chart
From Mar 2024 to Apr 2024
JetBlue Airways (NASDAQ:JBLU)
Historical Stock Chart
From Apr 2023 to Apr 2024