Retired Eastman Kodak chief executive Daniel Carp will Chair Delta's post-Chapter 11 board of directors as non-executive chairman. One of the new director candidates also includes former Northwest Airlines CEO Richard H. Anderson.
Jerry Grinstein, along with three current members of Delta current board (Paula Rosput Reynolds, who left Atlanta to serve as president and CEO of Safeco Corporation in Seattle; David R. Goode, retired chairman of Norfolk Southern Corp., and Kenneth B. Woodrow, retired vice chairman Target Corp) will continue to serve on the proposed replacement board.
Other new directors Delta named are Walter Massey, presidsent of Morehouse College in Atlanta; John S. Brinzo, chairman and former CEO of Cleveland-Cliffs; Eugene I. Davis, chairman and CEO of Pirinate Consulting Group, LLC; Richard K. Goeltz, retired vice chairman and chief financial officer of American Express; and Victor L. Lund, former chairman and CEO of American Stores Company.
VTNYC From United States of America, joined Jan 2006, 277 posts, RR: 0
Reply 6, posted (7 years 4 months 3 days 1 hour ago) and read 2579 times:
Does the board have input in to the day to day running of the airline? I take it that the CEO and VP's run the airline and are answerable to the board. Would the board have input in to major decision like aircraft purchase, hedging, new routes etc.
Just trying to get an idea of the boards role in the running of the company and it's significance.
First Flight, PA001 DEL-FRA-LHR-JFK; Dream- JFK-COK on a B6 787
LawnDart From United States of America, joined May 2005, 970 posts, RR: 3
Reply 8, posted (7 years 4 months 2 days 21 hours ago) and read 2395 times:
Quoting VTNYC (Reply 6): Does the board have input in to the day to day running of the airline? I take it that the CEO and VP's run the airline and are answerable to the board. Would the board have input in to major decision like aircraft purchase, hedging, new routes etc.
In a sense, yes, but only from the perspective of approving major decisions made by the executives of the company.
For instance, in an aircraft purchase, the division(s) responsible for acquiring aircraft would look at all the candidates, determine the cost (of acquisition and operation) and present their findings, along with their recommendation, to the board, which sprinkles it with Holy Water.
Boards of Directors are often comprised of individuals that don't know, as in this example, the difference between a CRJ and an A380, but based on the information given to them by the individuals who do, they collectively approve or disapprove. This has lead many Boards to be accused of rubber-stamping decisions made by executives.
Quoting TVNWZ (Reply 7): Interesting. A couple of ties to Egan. I smell smoke.
Interesting, indeed...although I don't know what, if any, ties Mr. Anderson may have to the people still running NW.
WorldTraveler From , joined Dec 1969, posts, RR:
Reply 9, posted (7 years 4 months 2 days 20 hours ago) and read 2323 times:
having board members who are not exclusively experienced in the industry of the company whose board they sit on helps to provide experience from other industries. There needs to be a balance of airline people and people who are in touch w/ trends in other businesses. This does seem to be a very experienced board although it almost seems many more than I would have expected re retired from their executive careers.
SLCUT2777 From United States of America, joined Dec 2005, 4028 posts, RR: 11
Reply 10, posted (7 years 4 months 2 days 16 hours ago) and read 2203 times:
Quoting Positiverate (Thread starter): Jerry Grinstein, along with three current members of Delta current board (Paula Rosput Reynolds, who left Atlanta to serve as president and CEO of Safeco Corporation in Seattle; David R. Goode, retired chairman of Norfolk Southern Corp.
It is safe to assume that the latter two have close business ties to Grinstein. Rosput-Reynolds being at Safeco is in Grinstein's home town where he built his career as a corporate attorney prior to his tenure at Western, and David Goode he knows from his years at Burlington Northern.
DELTA Air Lines; The Only Way To Fly from Salt Lake City; Let the Western Heritage always be with Delta!
Is it just me, or is this one becuase the Delta SkyMiles credit card is issued by American Express?
BTW, Daniel Carp didn't do that good of a job at Eastman Kodak, as he was late to address the digital challenge to the company's bottom line. Never mind that Kodak invented the digital camera in 1974... they thought that film wouldn't be displaced as fast as it was.
[Edited 2007-04-01 03:41:32]
I don't work for FWA, their tenants, or their ad agency. But I still love FWA.