US Airways Fills CEO, President Posts
US Airways today named David N. Siegel president and CEO, effective Monday and filling duties assumed by chairman Stephen Wolf following Rakesh Gangwal's departure in November. Siegel, who also will become a board member of both the parent company US Airways Group and the airline itself, comes from Avis Rent A Car System, where he has been CEO and chairman of the Cendant Corp. subsidiary.
Prior to leading Avis, Siegel served at Budget Group, Northwest Airlines and Continental Airlines, including being president of then-called Continental Express between 1995 and 1999. "While this is a particularly challenging time for the airline industry, I'm delighted to return to commercial aviation, where I spent much of my career," Siegel said in a company statement. "I have long viewed US Airways as an airline with a strong franchise and tremendous potential."
Siegel is challenged with overcoming US Airways' current woes, including poor financial performance, a new strategic direction focusing, in part, on regional jet operations and the search for alliance partners.
Wolf, meanwhile, remains chairman of US Airways Group and US Airways Inc. in a non-executive role.
At Avis, current president and COO Robert Salerno will lead the company until Siegel's successor is named. "After a very successful record as an airline executive, David could not resist the opportunity to head up an independent, publicly traded airline," stated John Chidsey, chairman and CEO of Cendant's vehicle services division.