Delta COO Leaving Carrier Weeks After Tech Outage
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Key TakeawaysDelta COO Michael Spanos is departing after just a year with the carrier, according to an SEC filing.Spanos' departure comes a month after a global IT outage led Delta to cancel thousands of flights, which CEO Ed Bastian said cost the company $500 million.Spanos previously had expressed potential interest in leaving the company, according to a Bloomberg report that cited a memo from Bastian.
Delta Air Lines (DAL) Chief Operating Officer (COO) Michael Spanos is leaving the airline after just a year with the company on Aug. 31, according to a Securities and Exchange Commission (SEC) filing.Spanos' departure comes a month after a global Microsoft (MSFT) Windows outage triggered by a botched CrowdStrike (CRWD) software update resulted in Delta's canceling thousands of flights in the following days, far more than rivals United Airlines (UAL) and American Airlines (AAL).The debacle cost the airline roughly $500 million, Chief Executive Officer (CEO) Ed Bastian said, and the U.S. Department of Transportation (DOT) opened an investigation into Delta's handling of the aftermath. Spanos Reportedly Already Was Looking ElsewhereHowever, Spanos already was looking elsewhere prior to the outage, according to Bloomberg. The COO had informed Bastian of his potential interest in leaving the company "earlier this summer," according to a memo from the CEO cited in the report, and that Spanos intends to join another company. Shares of Delta rose nearly 3% to $41.27 as of 3 p.m. ET Friday to move into positive territory for the year. Read the original article on Investopedia.
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