Delta Air Lines, Inc. (NYSE:DAL) announced the departure of Executive Vice President and Chief Operating Officer Michael Spanos, effective August 31, 2024. The airline disclosed this executive transition in a filing with the Securities and Exchange Commission on Friday.
Spanos, who has played a significant role in the airline's operations, will leave the Atlanta-based carrier at the end of the month. In accordance with the company's severance plan, Spanos will receive benefits outlined in the Delta Air Lines, Inc. Officer and Director Severance Plan and existing award agreements under the Delta Air Lines, Inc. Performance Compensation Plan.
The company has not yet named a successor for the COO position. The departure of such a high-ranking executive is noteworthy for stakeholders and the industry, as the COO role is critical for the day-to-day management and strategic direction of airline operations.
Delta, headquartered at Hartsfield-Jackson Atlanta International Airport, is a major player in the air transportation industry, classified under the Scheduled Air Transportation [4512] sector. The company operates under the jurisdiction of incorporation in Delaware, with a fiscal year ending on December 31.
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