Official company release:
The AMR Board of Directors accepted the
resignation of CEO and Chairman Don Carty (right) Thursday.
The Board named Edward A. Brennan as Executive Chairman and current
President and COO Gerard J. Arpey as the new Chief Executive
Officer. Arpey continues as President.
Ed Brennan, on behalf of the AMR Board of Directors, thanked Don
Carty for his years of service and dedication to the company. They
were especially grateful for his stewardship during the most
difficult years in aviation history.
Carty praised his successors and said the appointments of
Brennan and Arpey will "begin to build a bridge back to the path
that promised a new culture of collaboration, cooperation and
trust."
In a statement, the Board of Directors said, "In making these
appointments, we have great confidence in the team of Ed Brennan
and Gerard Arpey."
Ed Brennan, who has served as a member of the AMR Board of
Directors for more than 17 years, has the "breadth of experience
leading and directing some of the most venerable companies in
America and will serve American incredibly well," the Board
stated.
In appointing Gerard Arpey, the Board noted that, "His
commitment to this company is unwavering. His dedication to its
employees is unsurpassed. And his experience and business acumen in
this industry is unrivaled."
Arpey promised to work to rebuild trust in management throughout
the company and said he looks forward to the value Brennan’s
counsel will bring to the company.
First joining American in 1982 as a financial analyst, Arpey
served as chief financial officer of AMR from 1995 to 2000, during
which time the Company experienced strong profitability. He also
led the successful efforts to spin off Sabre from AMR.
And since becoming Chief Operating Officer in 2000, he has
guided the Company’s operations out of the depths of the
September 11th tragedy to the forefront of industry on-time
performance and reliability.
"I will continue to lead by example," Arpey said. "Actions, of
course, speak louder than words. And you can expect me to ensure my
actions are consistent with the high standards we set for all
employees of American Airlines and American Eagle."
Arpey vowed to do his very best to lead American "through these
extraordinary times" and "restore the confidence of all employees
in their great company."
Carty, 58, has spent more than 20 years at AMR, where he has
served as CEO and Chairman since 1998.
Brennan, 69, is the retired chairman, president and CEO of
Sears, Roebuck and Co. Prior to his retirement from Sears in 1995,
he had been associated with that company for 39 years.
Arpey, 44, has devoted his entire professional career to
American Airlines, where he began as a financial analyst in 1982
and became a corporate officer in 1989. He holds a FAA multi-engine
instrument rating and is an avid private pilot.