JetBlue Bumps CEO From Top Spot

Board ousts founder of discount airline, promotes president
By J. Kelman,  Newser User
Posted May 10, 2007 10:46 AM CDT

(Newser) – JetBlue's maverick founder and CEO is out of the top job, the company announced this morning. David Neeleman, who led the carrier during February's service breakdowns—which left passengers stranded on the tarmac for hours and cost the airline tens of millions of dollars—will assume "a more strategic role" with the seven-year-old carrier.

Neeleman became a household name when he went on a nationwide apology binge following the Valentine's Day storms, which didn't avert a 20 percent drop in the company's stock price. And the candid approach apparently didn't do much for board members, who moved president and COO Dave Barger into Neeleman's job.