United Airlines’ CFO Andrew Levy resigns

United Airlines’ CFO Andrew Levy resigns

United Airlines (UAL) today announced Gerry Laderman has been named acting chief financial officer. He succeeds Andrew Levy, who has decided to resign from United.

The statement from the airline confirmed that the company will immediately begin a search for a new chief financial officer.

In a statement, Levy said he resigned on Monday, May 14, after serving less than two years in the post, Reuters report.

“Since my arrival in August 2016, the company has faced several challenges, but we have nevertheless enjoyed success. As satisfying as this job has been, I am considering several exciting opportunities and will choose one in the coming weeks,” Andrew Levy said.

Andrew Levy said that he will continue to serve on the board of Copa Holdings Inc (CPA.N), the parent company of Panama’s Copa Airlines, as an independent member.

The interim CFO, Laderman currently serves as senior vice president of finance, procurement and treasurer and as a member of the senior executive leadership team. He has held legal and financial positions of increasing responsibility at the company for nearly 30 years and will be responsible for continuing to execute United’s overall financial strategy, including cost management, capital allocation and balance sheet optimization.

“I personally want to thank Andrew for his contributions to United. He leaves the company in a stronger financial position and with a clear strategy and framework in place. Our exceptional operational performance and our focus on productivity are driving improved profitability despite anticipated fuel headwinds and we remain confident in our existing financial guidance,” said CEO Oscar Munoz.

“Gerry’s deep experience and financial acumen mean that he is ideally suited to lead our finance organization during this transitional period. Gerry will work with the rest of the team to continue delivering on our financial strategy as we search for a permanent CFO.”