Referenews

Greg Smith,

a former

Boeing Co.

BA 1.15%

chief financial officer who joined American’s board last year, has been named independent chairman, effective April 30, American said Thursday. Mr. Smith joined American’s board in January 2022, not long after Mr. Parker announced his plans to step down as CEO. 

Mr. Parker spent over two decades as an airline CEO, overseeing airlines during a tumultuous period for the industry that was bookended by crises. He took the helm of America West Airlines just 10 days before the Sept. 11 terrorist attacks in 2001. At the end of his tenure, he helped American secure government aid and navigate the Covid-19 pandemic. In between, he was a crucial player in a wave of consolidation, orchestrating two mergers that created an industry titan.

In a written statement Thursday, Mr. Parker said the handoff to Mr. Isom had been “flawless,” and that the time is right to turn over the chairmanship as well.

“The American Airlines team will be forever grateful to Doug for building our airline into what it is today,” Mr. Isom said. “I look forward to continuing to work with the board and Greg in his new role as we shape the American Airlines of the future.”

Airline shares have surged this year as carriers have said the demand recovery from the pandemic has remained robust, though the industry is confronting operational challenges. American came into the pandemic with more debt than rivals after refreshing its fleet and borrowed more to make it through, but said last year it is over halfway to its goal of paying down $15 billion in debt by the end of 2025.

Two other longtime board members,

Jim Albaugh

and

Ray Robinson,

are also planning to retire, American said.

Write to Alison Sider at alison.sider@wsj.com