JetBlue Announces CFO Transition
May 17 2021 - 7:00AM
Business Wire
JetBlue (NASDAQ: JBLU) today announced that Ursula Hurley, head
of treasury and investor relations, has been named acting chief
financial officer. She succeeds Steve Priest, who has decided to
leave JetBlue effective June 11, 2021 to pursue a new opportunity.
Hurley will assume the role of acting chief financial officer
effective June 12, 2021, in addition to her current duties.
Hurley began her career at JetBlue 17 years ago. She has been
responsible for debt and cash management, cash flow, fuel and
interest rate hedging, strategic sourcing, and fleet strategy,
including aircraft and engine sourcing. Her role was recently
expanded to manage JetBlue’s relationship with the investor
community.
“Steve has been instrumental in helping lead JetBlue through the
pandemic, and he leaves JetBlue in a place where the company is
well positioned to continue our recovery and to emerge stronger
than before,” said Robin Hayes, JetBlue’s chief executive officer.
“Prior to the pandemic, Steve led a successful company-wide effort
to reset our cost structure, setting up JetBlue for long-term
success. We are incredibly grateful for his leadership and
contributions to JetBlue and wish him the best in his next
adventure. We will always think of him as a member of the JetBlue
family.
“One of Steve’s greatest accomplishments was building a
world-class finance team and we are fortunate that Ursula, one of
our strongest leaders, will succeed Steve in leading JetBlue during
this transition. She began her career at JetBlue and worked
directly with Steve over the past three years to lead
cross-functional efforts such as the evolution of our fleet, our
structural cost program, and strategic sourcing initiatives. Her
work helped position JetBlue with one of the industry’s strongest
balance sheets going into the pandemic. Over the past year, she
successfully led our efforts to preserve our liquidity position,
and is the perfect leader to support this transition as we begin to
repair our balance sheet and return on a path towards
industry-leading margins.”
“It has been a privilege to work alongside such an exceptional
and passionate team for the past six years, and the decision to
leave was one of the most difficult I have ever made,” said Priest.
“I could not be prouder of our finance team and, in fact, of all
our crewmembers who accomplished so much over this unprecedented
year and, prior to that, pulled together to deliver a
cost-conscious culture while maintaining our strong and trusted
brand. Ursula has been central to these efforts, and I am confident
in her ability to support JetBlue as the airline emerges from the
pandemic and regains momentum.”
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier
in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San
Juan. JetBlue carries customers across the U.S., Caribbean and
Latin America. For more information, visit jetblue.com.
Forward Looking Statements
Forward-Looking Information Statements in this Press Release (or
otherwise made by JetBlue or on JetBlue’s behalf) contain various
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, or the Securities Act, and
Section 21E of the Securities Exchange Act of 1934, as amended, or
the Exchange Act, which represent our management’s beliefs and
assumptions concerning future events. These statements are intended
to qualify for the “safe harbor” from liability established by the
Private Securities Litigation Reform Act of 1995. When used in this
Press Release, the words “expects,” “plans,” “anticipates,”
“indicates,” “believes,” “forecast,” “guidance,” “outlook,” “may,”
“will,” “should,” “seeks,” “targets” and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements involve risks, uncertainties, and assumptions, and are
based on information currently available to us. Actual results may
differ materially from those expressed in the forward-looking
statements due to many factors, including, without limitation, the
coronavirus ("COVID-19") pandemic and the outbreak of any other
disease or similar public health threat that affects travel demand
or behavior; restrictions on our business related to the financing
we accepted under various federal government support programs such
as the CARES Act, and the Consolidated Appropriations Act, 2021;
our significant fixed obligations and substantial indebtedness;
risk associated with execution of our strategic operating plans in
the near-term and long-term; the recording of a material impairment
loss of tangible or intangible assets; our extremely competitive
industry; volatility in financial and credit markets which could
affect our ability to obtain debt and/or lease financing or to
raise funds through debt or equity issuances; volatility in fuel
prices, maintenance costs and interest rates; our reliance on high
daily aircraft utilization; our ability to implement our growth
strategy; our ability to attract and retain qualified personnel and
maintain our culture as we grow; our reliance on a limited number
of suppliers, including for aircraft, aircraft engines and parts
and vulnerability to delays by those suppliers; our dependence on
the New York and Boston metropolitan markets and the effect of
increased congestion in these markets; our reliance on automated
systems and technology; our being subject to potential
unionization, work stoppages, slowdowns or increased labor costs;
our presence in some international emerging markets that may
experience political or economic instability or may subject us to
legal risk; reputational and business risk from information
security breaches or cyber-attacks; changes in or additional
domestic or foreign government regulation, including new or
increased tariffs; changes in our industry due to other airlines'
financial condition; acts of war or terrorism; global economic
conditions or an economic downturn leading to a continuing or
accelerated decrease in demand for air travel; adverse weather
conditions or natural disasters; external geopolitical events and
conditions; and challenges related to our ability to timely
identify successor executive officers in light of, among other
things, competition for experienced executives in our industry as
well as challenges related to senior management transitions. It is
routine for our internal projections and expectations to change as
the year or each quarter in the year progresses, and therefore it
should be clearly understood that the internal projections,
beliefs, and assumptions upon which we base our expectations may
change prior to the end of each quarter or year.
Given the risks and uncertainties surrounding forward-looking
statements, you should not place undue reliance on these
statements. Further information concerning these and other factors
is contained in the Company's Securities and Exchange Commission
filings, including but not limited to, the Company's 2020 Annual
Report on Form 10-K and its Quarterly Reports on Form 10-Q. In
light of these risks and uncertainties, the forward-looking events
discussed in this Press Release might not occur. Our
forward-looking statements speak only as of the date of this
presentation. Other than as required by law, we undertake no
obligation to update or revise forward-looking statements, whether
as a result of new information, future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210517005369/en/
JetBlue Corporate Communications Tel: +1.718.709.3089
corpcomm@jetblue.com
JetBlue Investor Relations Tel: +1 718 709 2202
ir@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