Back to top

Image: Bigstock

Alaska Air to Get New CEO, Incumbent Announces Retirement

Read MoreHide Full Article

Amid impacts on operations stemming from the COVID-19 pandemic, Alaska Air Group, Inc. (ALK - Free Report) , the parent company of Alaska Airlines, announced a major leadership succession plan. In this plan, Ben Minicucci, current president of Alaska Airlines and member of the Alaska Air Group board will be replacing Brad Tilden as the CEO of the company. The transfer of power will take place on Mar 31, 2021. However, Brad Tilden will continue to serve as part of Alaska Air's board.

Holding 16 years of experience with Alaska Air, Ben Minicucci has contributed in various roles since joining in 2004 as staff vice president of maintenance. He also held the role of vice president of Seattle operations (2007-2009) where he was instrumental in vastly improving Alaska Air's on-time performance and reliability.

From 2009 to 2016, he served as executive vice president and chief operating officer where he focussed on improving services provided to passengers and improving their flight experience.  Later in 2016, he was promoted to president of Alaska Air and was also named as the CEO of Virgin America upon Alaska Air's acquisition of the airline.

Given Minicucci’s vast experience, the company is hopeful that his appointment as the CEO will yield the desired results. In fact, Patricia Bedient, Alaska Air Group’s lead independent director, stated, "The board has complete confidence in Ben's ability to lead Alaska to great success in the years to come”.

Zacks Rank & Stocks to Consider

Alaska Air currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , FedEx Corporation (FDX - Free Report) and Herc Holdings (HRI - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, FedEx and Herc Holdings is pegged at 15%, 12% and 6.5%, respectively.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>