Oscar Munoz, United Continental CEO: 5 Fast Facts You Need to Know

Oscar Munoz, new CEO of United Continental, has suffered a heart attack. He is being treated in a Chicago hospital, his condition is unknown. Here’s what you need to know.

---

1. He Was Named CEO One Month Ago

On Sept. 8 Munoz was named president and CEO of United Continental. He was already serving on the board of directors prior to the promotion, according to The Wall Street Journal.

He held the position of chief operating officer for CSX Corporation, a railroad company, before making the move to United Continental.

According to Forbes, he spoke about his decision to leave CSX in a conference call,

“It was an incredibly difficult decision. I loved my time at CSX and accomplished many things, but I took this job because I’m truly excited for the things we can do together.”

He also brings experience from his jobs at AT&T, Pepsico and The Coca-Cola Company.

2.He Took On the Role After Jeff Smisek Stepped Down Amid a Scandal

According to Fox News, after subpoenas from a federal grand jury for information about United’s dealings with the Port Authority of New York and New Jersey earlier this year, United conducted it’s own internal investigation.

Smisek and members of his leadership team were forced to leave after the internal investigation showed a connection to a criminal investigation of the Port Authority of New York and New Jersey.

David Samson, former Port Authority Chairman, reportedly asked Smisek to provide poorly traveled flights to South Carolina, according to USA Today.

Smisek received a separation payment of about $5 million and will have health insurance until his is eligible for Medicare, according to Fox News.

In an open letter to the United employes, Munoz wrote:

I took this job because I am excited by what we can do together. There is incredible opportunity for innovation, for earnings growth, and for improving an experience that is essential to the vitality of global business and to the personal lives of millions of people. I will be relentless in pursuing these goals, and I hope and expect that all of you will share that same passion.

3.United Continental’s Stock Fell Almost Three Percent After News Broke

According to The Street, the United Continental stock is lower by 2.87% to $56.10 in midday trading today.

United Continental’s executive ranks have already been diminishing since the Smisek scandal, and with the announcement of Munoz’s heart attack, the stocks dropped more, according to The Wall Street Journal.

---

4.An Interim United Airlines Leader May Need to Be Called In

United Continental hopes to have more information on his health within 24 hours, but an interim leader may need to be called in.

A United source told The Wall Street Journal,

It could be a mild heart attack, and he could be back in two weeks. There are a few [United] executives who could be interim [CEO] for a short period of time.

United says they will continue to operate normally in a release this afternoon:

We have been informed by Oscar’s family that he was admitted to the hospital on Thursday and we will provide further details as appropriate. In the meantime, we are continuing to operate normally. Our thoughts and prayers are with his family and we are respecting their privacy.

5.United Continental’s Financial Reports Are Due on Thursday

According to a United Continental press release, the company will hold a conference call to discuss third-quarter 2015 financial results on Oct. 22 in the morning. You can listen to the webcast conference call live here.