United Continental Holdings Inc (NYSE:UAL)’s CEO Oscar Munoz Will Be Back

His previous appointee, Jeff Smisek, had to resign after an enquiry into the probe on the United Continental Holdings Inc (NYSE:UAL)’s relationship with that of Port Authority of NY, as well as, New Jersey. Jeffrey Cohn, who handles the CEO succession planning practice for recruiters DHR global, said it is incredibly abnormal for a seriously ill man to suddenly come back to job. Munoz thanked Hart for his work in the statement, saying “I’m personally grateful to Brett and the entire management team for their leadership and for embracing United’s new direction”. The stock’s 9.9 percent slide this year lags behind the 0.3 percent drop for the Bloomberg U.S. Airlines Index.

Reuters adds that United’s board of directors had been preparing “all potential outcomes” that may result from the hospitalization of Munoz last October 15, 2015.

The airline plucked Mr. Munoz, a United director and then-president of railroad operator CSX Corp., to replace Mr. Smisek, who had run the company since the 2010 merger and was CEO of Continental before that. Your messages of encouragement have helped profoundly.

The letter was the first solid indication that Munoz plans to return as CEO and how soon. Such comments made Mr. Munoz instantly popular with many in the dispirited workforce.

Shares were unchanged in after-market trading following the new of Munoz’s return.

Munoz was rushed to the hospital on that day due to a heart attack.

Since September 8, United Continental has been experiencing C-suite turbulence.

United, the largest carrier in Chicago and No. 2 in the world, last month reported a third-quarter profit of $1.7 billion, compared with $1.08 billion in the same quarter a year ago.