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Delta CFO Retires Effective Immediately  
User currently offlinecatiii From United States of America, joined Mar 2008, 3029 posts, RR: 4
Posted (2 years 4 months 3 weeks 5 days ago) and read 21340 times:

According to the Reuters story Hank Halter is retiring effective immediately as CFO of Delta, being replaced by an internal candidate named Paul Jacobson. http://www.reuters.com/article/2012/03/01/delta-idUSL2E8E12YB20120301

Halter seems kind of young to retire so suddenly. Was it health or performance related?

81 replies: All unread, showing first 25:
 
User currently offlinegoldenstate From United States of America, joined Feb 2010, 566 posts, RR: 4
Reply 1, posted (2 years 4 months 3 weeks 5 days ago) and read 21167 times:

Quoting catiii (Thread starter):
Halter seems kind of young to retire so suddenly. Was it health or performance related

Probably not the former and certainly not the latter.


User currently offlinealitalia744 From United States of America, joined Mar 2000, 4742 posts, RR: 45
Reply 2, posted (2 years 4 months 3 weeks 5 days ago) and read 21124 times:

Maybe moving to AA or another competitor....usually effctive immediately is either health, misplay or going to a competitor.


Some see lines, others see between the lines.
User currently offlinecokepopper From United States of America, joined May 2008, 1175 posts, RR: 10
Reply 3, posted (2 years 4 months 3 weeks 4 days 23 hours ago) and read 20921 times:

I would think that upper executive level would have something in their contract
Stating they can't work for the compettion.


User currently onlinestlgph From United States of America, joined Oct 2004, 9299 posts, RR: 25
Reply 4, posted (2 years 4 months 3 weeks 4 days 23 hours ago) and read 20905 times:

Quoting cokepopper (Reply 3):
I would think that upper executive level would have something in their contract
Stating they can't work for the compettion.

Even a "no compete" has time limits, and/or the option of being bought out.
Sometimes upper level management, depending on the position, or sometimes, even a whole company's rule of thumb is if you are going to resign/quit/retire, you leave immediately.



Eternal darkness we all should dread. It's hard to party when you're dead.
User currently offlinekhpn From United States of America, joined Sep 2010, 152 posts, RR: 0
Reply 5, posted (2 years 4 months 3 weeks 4 days 22 hours ago) and read 20460 times:

if he was to go to a competitor, any guesses on where hed go?

User currently offlinealnicocunife From United States of America, joined Mar 2011, 158 posts, RR: 0
Reply 6, posted (2 years 4 months 3 weeks 4 days 22 hours ago) and read 20397 times:

Most likely wants to be a CEO? Hank being the CEO at Delta seemed a slim possibility. You will see him pop up somewhere as a CEO soon I would guess.

User currently offlineXJET From United States of America, joined Feb 2007, 491 posts, RR: 2
Reply 7, posted (2 years 4 months 3 weeks 4 days 21 hours ago) and read 20101 times:

Maybe he's go to PeoplExpress?? Hahahahahahaha

User currently offlinePIEAvantiP180 From United States of America, joined Sep 2009, 531 posts, RR: 0
Reply 8, posted (2 years 4 months 3 weeks 4 days 20 hours ago) and read 19883 times:
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I bet he is the new CEO of AA. They need new management that the labor group might feel better about since they are in a law suite with the current one.

User currently offlinegoldenstate From United States of America, joined Feb 2010, 566 posts, RR: 4
Reply 9, posted (2 years 4 months 3 weeks 4 days 17 hours ago) and read 19440 times:

Quoting alnicocunife (Reply 6):
Hank being the CEO at Delta seemed a slim possibility.

Which is Delta's loss. Hank Halter is one of the finest executives that company has ever had.


User currently offlinehiflyer From United States of America, joined Nov 2004, 2167 posts, RR: 3
Reply 10, posted (2 years 4 months 3 weeks 4 days 15 hours ago) and read 19175 times:

CFO's bugging out quickly...especially around the time of annual reports and such....can be indicative of a problem within the company. A marketable CFO, especially, will bolt to avoid being attached to those issues he/she see coming near term that are not in the public view now.

  


User currently offlineDLBOIFIN From Finland, joined Jun 2006, 164 posts, RR: 0
Reply 11, posted (2 years 4 months 3 weeks 4 days 14 hours ago) and read 19072 times:

I sure hope he will be the next CEO of AA!!

User currently offlinebjorn14 From Norway, joined Feb 2010, 3381 posts, RR: 2
Reply 12, posted (2 years 4 months 3 weeks 4 days 12 hours ago) and read 18452 times:

Too bad F9 already named their CEO. How old is Hank?


"I want to know the voice of God the rest is just details" --A. Einstein
User currently offlinenwaesc From United States of America, joined Aug 2007, 3381 posts, RR: 9
Reply 13, posted (2 years 4 months 3 weeks 4 days 11 hours ago) and read 18095 times:

Quoting goldenstate (Reply 9):
Which is Delta's loss. Hank Halter is one of the finest executives that company has ever had

I agree. I was certainly surprised/sad to see him go.



"Nothing ever happens here, " I said. "I just wait."
User currently offlineb757capt From United States of America, joined Feb 2004, 1366 posts, RR: 0
Reply 14, posted (2 years 4 months 3 weeks 4 days 10 hours ago) and read 17773 times:

Quoting hiflyer (Reply 10):
CFO's bugging out quickly...especially around the time of annual reports and such....can be indicative of a problem within the company. A marketable CFO, especially, will bolt to avoid being attached to those issues he/she see coming near term that are not in the public view now.

I held back watching this thread and I am surprised that it took 10 reply's for someone to say this. A CFO just does not wake up and decide to retire. Something is wrong here...............



The views written by this user are in no manner the views of my employer and should not be thought as such.
User currently offlineCitationJet From United States of America, joined Mar 2003, 2423 posts, RR: 3
Reply 15, posted (2 years 4 months 3 weeks 4 days 7 hours ago) and read 15707 times:

Quoting bjorn14 (Reply 12):
How old is Hank?

The article in the OP's link gives his age.



Boeing Flown: 701,702,703;717;720;721,722;731,732,733,734,735,737,738,739;741,742,743,744,747SP;752,753;762,763;772,773.
User currently offline727forever From United States of America, joined Jan 2006, 793 posts, RR: 5
Reply 16, posted (2 years 4 months 3 weeks 4 days 7 hours ago) and read 15364 times:

100% Pure speculation on my part, but I'd place a small bet that the rest of the Executive Leadership is pushing hard to go one direction and Hank thinks that it is a bad move. Rather than sticking around to clean up the mess, he is choosing to bow out and go a different direction. Smart move if my theory is correct as if it is what I think they are up to, it's going to be a huge mess to clean up. No way AA DL!! Just doesn't have the same ring as that slogan on the side of the Virgin Airplanes several years back.

727forever



727forever
User currently offlinesxf24 From United States of America, joined Aug 2007, 1257 posts, RR: 0
Reply 17, posted (2 years 4 months 3 weeks 4 days 6 hours ago) and read 15217 times:

Quoting hiflyer (Reply 10):
CFO's bugging out quickly...especially around the time of annual reports and such....can be indicative of a problem within the company. A marketable CFO, especially, will bolt to avoid being attached to those issues he/she see coming near term that are not in the public view now.

Since we're several months past the annual report, this speculation seems to be off base.

I would imagine Halter is pursuing a higher paid opportunity outside of the airline industry. Airlines pay crap for the amount of stress and responsibilities placed on executives. It is not unusual to see executives leave after several years.


User currently offlineDocLightning From United States of America, joined Nov 2005, 19385 posts, RR: 58
Reply 18, posted (2 years 4 months 3 weeks 4 days 4 hours ago) and read 13411 times:

The bit I don't get is the use of the word "retire." To me "retire" means something different from "resign." "Retire" means "I'm finishing my career."

Now, my guess is that he's probably worth many millions of dollars. Maybe he got tired of the grind and wants to run a dog rescue or feed starving kids in Africa or something? But I agree, he seems pretty young for the use of the word "retire."


User currently offlinenwaesc From United States of America, joined Aug 2007, 3381 posts, RR: 9
Reply 19, posted (2 years 4 months 3 weeks 4 days 3 hours ago) and read 13324 times:

Quoting 727forever (Reply 16):
Smart move if my theory is correct as if it is what I think they are up to, it's going to be a huge mess to clean up. No way AA DL!!

Not out of the realm of possibility, especially since IIRC, he came to DL from AA?

Quoting sxf24 (Reply 17):
I would imagine Halter is pursuing a higher paid opportunity outside of the airline industry.

Much more likely scenario... or:

Quoting DocLightning (Reply 18):
Now, my guess is that he's probably worth many millions of dollars. Maybe he got tired of the grind and wants to run a dog rescue or feed starving kids in Africa or something? But I agree, he seems pretty young for the use of the word "retire."

I'm sure he is worth plenty. Life's short, and maybe he decided to enjoy it? Who wouldn't do the same, if they were in a position to do so?

[Edited 2012-03-02 12:07:31]


"Nothing ever happens here, " I said. "I just wait."
User currently offlineCitationJet From United States of America, joined Mar 2003, 2423 posts, RR: 3
Reply 20, posted (2 years 4 months 3 weeks 4 days 3 hours ago) and read 13298 times:

Quoting DocLightning (Reply 18):
"Retire" means "I'm finishing my career."

People "retire" from the military after 20 years of military service, and they are in their 40's. They are not finished with their career, but rather take a job in the private sector.



Boeing Flown: 701,702,703;717;720;721,722;731,732,733,734,735,737,738,739;741,742,743,744,747SP;752,753;762,763;772,773.
User currently offlinebrons2 From United States of America, joined Sep 2001, 3007 posts, RR: 4
Reply 21, posted (2 years 4 months 3 weeks 4 days 3 hours ago) and read 13098 times:

Hope it's not a health problem. Good luck to him.


Firings, if well done, are good for employee morale.
User currently offlineNWAROOSTER From United States of America, joined Feb 2005, 1064 posts, RR: 3
Reply 22, posted (2 years 4 months 3 weeks 4 days 2 hours ago) and read 12492 times:
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He did not retire, as far as I am concerned, he was forced out for probably not being a team member. Deltanet does not show him as being an employee. His bio is removed and there is no mention of him on the employee web Deltanet. Just now, Deltanet now states Hank Halter is being replaced by Paul Jacobson as CFO in a one line statement buried in a letter to employees about changes in in the financial department.
Jon Bendoraitis is noted in Deltanet as having resigned from Comair and he is being praised.
Delta Airlines must be in the processes of making significant changes in it's financial department as well a other departments, along with its involvement with Comair.
Delta Arlines is now in a state of flux and only Richard knows what it is.   

[Edited 2012-03-02 13:08:35]

User currently offlineTdan From United States of America, joined Nov 2011, 408 posts, RR: 3
Reply 23, posted (2 years 4 months 3 weeks 4 days 2 hours ago) and read 12407 times:

This reeks of him being fired...masked as a "retirement." Must have been something sudden and unexpected. Hopefully it is not anything that adversely affects the company and was a localized incident


We will ride this thunderbird, silver shadows on the earth, a thousand leagues away our land of birth... -Captain Bruce
User currently offlineDocLightning From United States of America, joined Nov 2005, 19385 posts, RR: 58
Reply 24, posted (2 years 4 months 3 weeks 4 days 2 hours ago) and read 12281 times:

Quoting CitationJet (Reply 20):

People "retire" from the military after 20 years of military service, and they are in their 40's. They are not finished with their career, but rather take a job in the private sector.

Right. They retire from their military career to do something else.

So in this context, is he going to go do something else?


25 Post contains images hiflyer : Believe if he retires he takes his full package...if he resigns then normally not as much....seems everyone retires. yup...my bad...thinking of the an
26 Post contains images par13del : Flip side is anyone in the market for a new CFO should wait for his previous company annual reports to be filed before taking him on, just saying Unl
27 Post contains links BNAtraveler : Interesting, Delta's 8-K was filed today. http://edgar.sec.gov/Archives/edgar/...753/0001019687-12-000753-index.htm NOTE: Effective March 1, 2012, Han
28 Post contains images phishphan70 : Tell that to Brett Farve On a serious note, I'm it'll be interesting to follow Hank and see where he ends up within the next year or two.
29 FlyASAGuy2005 : Ed Bastian had already been pinged for the top spot upon RA's retirement some time in 2010.
30 FlyASAGuy2005 : Not true. He's still in teh directory as the EVP and CFO... Your entire post is a bit over the top for that matter. Considering the main news item on
31 VS11 : This does not sound like he chose to leave. It sounds like they made him....
32 rivervisual : Well he is leaving the position effective March 1 however he is not terminating his employment until April 1 and also receiving $400000 for transition
33 Viscount724 : That type of "consulting" wording is often just a euphemism for an extra severance payment.
34 rivervisual : True - but i still feel that if they wanted him gone he would be gone now as opposed to a month from now. I've seen many people walked out - even tho
35 Post contains images NWAROOSTER : Delta must have rewrote the article as when I first checked Deltanet there was NO mention of Hank Halter. When I started to write my comment, I went
36 FlyASAGuy2005 : If you say so...
37 Post contains images mayor : When I looked at this, earlier in the AM, Deltanet had an article about him leaving and about Paul Jacobson taking his spot. If the time on your post
38 Post contains images bigbird : That is true with any large company.
39 delta2ual : I think most companies are like that!
40 Post contains links BNAtraveler : He already has a significant Severance Plan, so the $400k is in addition: http://www.docstoc.com/docs/16226246...-DELTA-AIR-LINES-INC-DE---3-2-2009 -
41 Post contains images FlyASAGuy2005 : Well... isn't that basically what he said when saying it's an extra severance package meaning in addition to what he's already getting.
42 milesrich : Sounds like Halter got caught with this pen in the company ink, or some other violation of the code of conduct, or as others have pointed out, he is g
43 catiii : What are you basing that on?[Edited 2012-03-06 16:33:17]
44 PSU.DTW.SCE : This situation has been in the works for some period of time, otherwise they wouldn't simutaneously announce all of the promotions at the same time. A
45 milesrich : This is what I said: Taking part of the statement out of context distorts the meaning. The way Halter was swept out, it has to be one of these three t
46 mayor : Except I can never remember, in the years I worked for DL, that when this happened, where DL would actually say where the exec was going.......most o
47 aeroblogger : "consultant" usually means additional severance pay... I doubt he'll actually be doing any work as the "consultant"
48 bennett123 : If he is going to a competitor, which airline needs a CEO.
49 Post contains images aeroblogger : PEOPLExpress...
50 FlyASAGuy2005 : Considering he signed a non-compete, he's either taking a CFO job outside the industry that's paying him a lot more than what he's making now or he's
51 exFWAOONW : One possibility for the conflicting timing of his departure: he had acrued and not used a substantial amount of vacation time. The company cannot take
52 Post contains images Coronado : Maybe he is moving over to United Health where they have been short an R.A. for about 3 or 4 years?
53 Post contains links Viscount724 : As a sidenote, another example of a severance agreement -- Gregg Saretsky, now the CEO of WestJet, when he left Alaska Airlines. http://yahoo.brand.ed
54 Post contains images FlyASAGuy2005 : Why not just get paid the vacation time? BTW, he's still around the campus so there goes that theory
55 Post contains images DeltaL1011man : This stinks. I vote Hank becomes president and CFO. Fire the current president. Seriously, Him and Hauenstein are two people Delta should be tossing m
56 mayor : Even so, if he had done something wrong, etc., I doubt if they'd give him "additional" severance pay......they'd just give him what's due and push hi
57 DeltaL1011man : uh a little confused at you point. I'm saddened by the fact that one of the better people at Delta are leaving(while some people are still around and
58 mayor : No, I'm saying that people are making more of the reasons he's leaving than are probably, actually true. It's all conjecture and we will probably nev
59 Post contains images DeltaL1011man : He wasn't fired, he is leaving. My guess is he has been offered a CEO job (non-airline) and is going to move on after finding out that (once again) D
60 PSU.DTW.SCE : There are standard procedures in place that most companies follow regarding senior executive transitions. This is typically a matter that the BOD, HR,
61 mayor : Did you ever have any doubt it would be Ed? Unfortunately, most other candidates, that would be better, are now too old. It's a shame that they elimi
62 Post contains images ih8b6 : Mayor I mostly always agree with you - even when you were on the DL exchange - but I disagree with you here: I've been around a while - Gerry was not
63 FlyASAGuy2005 : What's your beef with Ed. Because he was brought on under Leo? I mean even back then he wasn't a big shot and apparently JG liked him so he must have
64 mayor : Perhaps there's a reason for this. Once the company started hiring execs from outside, maybe the employees didn't see all that much chance for advanc
65 sxf24 : As airlines have grown and competition has increased, the business has become increasingly more complex. Coming up from within and understanding oper
66 Post contains images FlyASAGuy2005 : Look at a guy like Tim Mapes. Not a DL guy; he actually came from Target but he has completely turned the marketing ship around. Just one example..
67 DeltaL1011man : Yes. I keep hoping he will get tired of waiting and leave. I was really hoping AMR would come after him. and FWIW that Ron Allen guy was from with in
68 mayor : Well, actually, he didn't. Many people think he did, but most of them weren't even around when he was in charge. I was. Leo's problem was that he sur
69 FlyASAGuy2005 : He knows he's next; he's not going anywhere. He's invested 15 years in the company already. Unless a huge corporation recruits him offering a multi-m
70 FlyASAGuy2005 : Common misconception. Ron Allen actually did a pretty decent job at DL all things considered. People bitch and moan about him because he made very ha
71 mayor : Exactly..........even the PanAm acquisition, which many have said was a mistake, while looking like one, was actually a good move, albeit a little ex
72 Post contains images DeltaL1011man : ....right, AMR now you know come get him. let me restate that. Wasn't he with Delta before he was CEO? So over paying for PA's TATL network, missing
73 Post contains images mayor : I guess the perspective is different if you were there or weren't there. BTW, a couple of reasons why the price was so high.....first, Carl Icahn and
74 Post contains images DeltaL1011man : yeah we all know the story. I get how it worked thanks.....the fact that he over paid for them just shows my point. It doesn't matter why he did it,
75 mayor : Please show me where I stated that he WASN'T from within.
76 mayor : They did........that was part of the unknown expenses. Not using it as an excuse........I'm just saying that this was why they overpaid (at least in
77 Post contains images FlyASAGuy2005 : It's all about perspective. Delta was Europe. At the time, they were not thinking about LatAm. Actually, you can thank Leo (the one everyone loves to
78 mayor : I didn't mind Leo, himself......but I didn't like the people he brought in from outside, who, it turns out, basically hated everything DL stood for o
79 FlyASAGuy2005 : i've been told by people that are still in finance that Michelle was a handfull...that's putting it very nicely.
80 delta2ual : I worked with Tim when we started DL Express. He was always very cordial with the F/A's, and respected our input. I just remember the famous "So be i
81 Post contains images mayor : She was the worst of the bunch.......and was even worse after she left........there was some stink about what she thought she should get as far as fl
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