Posted on: 15 September 2016 by Mark Howells
Mark Powers, JetBlue’s EVP and CFO, plans to retire from his role as CFO as of 1 November 2016.
While Powers will remain an advisor to JetBlue for one year, Jim Leddy, the airline’s SVP and treasurer, will serve as CFO on an interim basis (subject to approval of the JetBlue board of directors).
Powers became JetBlue’s CFO in October 2011 after joining the airline in 2006 as treasurer. Prior to JetBlue, Powers held leadership roles in finance and legal for Texas Air, Continental Airlines, Northwest Airlines and General Electric’s jet engine unit.
Robin Hayes, JetBlue’s president and CEO, stated, “On behalf of JetBlue’s 19,000 crewmembers, I want to extend our profound thanks to Mark for his decade of service to our company. During Mark’s tenure JetBlue has nearly tripled in size in crewmembers, fleet and network.
“At the same time, under Mark’s leadership, we have grown revenue in excess of $4 billion, reduced total debt by $800 million, grown free cash flow by $1.6 billion and improved ROIC by nearly 12%,” Hayes continued. “I appreciate Mark agreeing to serve as an advisor for the next twelve months so we can
continue to benefit from his considerable experience.”
Powers noted, “JetBlue crewmembers are some of the most passionate professionals I’ve had the pleasure to work with. It’s been an incredible honour to be part of the JetBlue team for the past ten years and to be part of its growth and evolution. JetBlue has matured rapidly and well. One of the things I’m most proud of is our strong finance team, which will serve JetBlue well into the future.”