Southwest Airlines has announced that chief financial officer (CFO) Laura Wright will retire on 20 September after 25 years with the company. Wright has won plaudits as the architect of the Dallas-based airline’s strong balance sheet and successful fuel-hedging strategies.
Southwest, the largest discount airline in the US, said that Tammy Romo, currently senior vice president (SVP) of planning, will succeed Wright and that the move that was foreseen in the company’s planning. The company added that Romo was an audit manager at Coopers & Lybrand before joining Southwest in 1991 in a financial-reporting role. She held several financial posts at Southwest before moving to the planning job in early 2010 and as CFO she will continue to lead strategic planning.
Wright was appointed CFO in 2004, making her one of the most powerful and long-tenured women in airline financial circles. Southwest is the only US carrier with an investment-grade credit rating and a decades-long history of profitability.
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