Changes at the controls for WestJet
Posted Mar 16, 2010 2:54 pm.
This article is more than 5 years old.
A turbulent ride today for WestJet stocks, with investors reacting to word that the President and CEO of the Calgary-based discount airline is resigning.
As of April 1st, Gregg Saretsky will be running the company, replacing Sean Durfy, who has been at the helm for the past four years.
After battling through the recession, dealing with the impact of the H1N1 virus and the installation of a new reservation system, WestJet President and CEO Sean Durphy figures now is as good of a time as any to retire.
Durphy says outside of wanting to spend more time with his family he has no future plans.
WestJet stock took a hit Tuesday, but Murphy believes it’s nothing to worry about.
Incoming President and CEO Gregg Saretsky who has worked in the airline industry for 25 years, believes the value of the stock will recover in rather short order after investors get to know him and realize the company is not deviating from it’s flight plan.
