Jake Brace To Retire From Airline November 1
United Airlines announced Monday
that Kathryn Mikells will be named senior vice president and chief
financial officer, succeeding Jake Brace, executive vice president
and chief financial officer, who is retiring November 1.
In her new position, Mikells, who has held several leadership
roles in the finance organization, will be responsible for
treasury, tax, the controller function, budgets, financial planning
and analysis, accounting, external financial reporting, and, for
administrative purposes, internal audit. She also will be
responsible for mergers and acquisitions, fleet planning, corporate
development and investor relations.
Brace has served since 2001 as CFO, as well as in the role of
chief restructuring officer, leading the company's $23 billion
restructuring. Since joining United in 1988, Brace has held several
leadership positions, including vice president -- Corporate
Development, vice president -- Financial Analysis and controller
and senior vice president -- Finance. Prior to joining United,
Brace also held leadership positions with American Airlines. He
will continue to serve in an advisory role to the chairman and the
company's board of directors.
"Jake has brought significant capability to the role of CFO,
combining strong business acumen, a solid financial background and
critical thinking at a time when the company was going through a
complex restructuring. We thank Jake for his unwavering commitment
to United, and for leading the work that enabled this company to
restructure and compete in a challenging competitive environment.
We wish him well in the next phase of his career," said Glenn
Tilton, United chairman, president and CEO. "Kathryn is a
demonstrated leader who successfully managed critical departments
within the finance organization. She is well suited and well
prepared to take on the role of chief financial officer."
Mikells most recently served as vice president of Investor
Relations, representing United to the business and financial
analyst community, and working closely with investors. Prior to
that, Mikells held the role of vice president of Financial Planning
and Analysis, responsible for business development and analytical
support for business decisions and financial planning, including
overseeing the company's operating and capital budgeting functions.
She was previously vice president and treasurer for United, where
she was responsible for United's treasury department, including
corporate finance, risk management, cash management, insurance and
corporate tax.
"I have worked with Kathy for more than 10 years, and this is a
role that she has prepared for, worked hard for, and that is well
deserved," Brace said.
Mikells joined United in 1994 as a financial analyst. She has
held several leadership positions, including vice president of
Corporate Real Estate, director of Corporate Planning, managing
director of United NetVentures, chief financial officer of Mileage
Plus, director of Financial Analysis, and manager of Operating
Budgets and Treasury. Prior to joining United, Mikells spent six
years in the financial services sector, including positions at GE
Capital's Corporate Finance Group, Household International and
Canadian Imperial Bank.