United Airlines CFO resigns in a surprise move

United Airlines announced on Thursday that its Chief Financial Officer Andrew Levy is stepping down in a major management shuffle after an unsatisfied financial performance. “My decision to resign was reached after a great deal of thought during the past few months,” Levy said in an email sent out to some of United employees.

He will be replaced in the interim by Gerry Laderman, a senior United executive, who was the chief financial officer before Levy.

The United has been struggling to match the performance of its U.S rivals American Airlines and Delta Airlines. The analysts believe the reason for its slack is that United failed to maintain public relationship in the recent past, and reported in-house executives in-fighting.

However, United Airlines Chief Executive Officer Oscar Munoz said Levy “leaves the company in a stronger financial position and with a clear strategy and framework in place.”

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