Southwest Airlines Announces Additions to Leadership Team in Finance
Southwest Airlines (NYSE: LUV) today announces additions to the leadership team in its finance department. Effective June 19, 2001, Southwest's vice president of finance and chief financial officer, Gary Kelly, will become the executive vice president and CFO. This executive change creates new positions within the finance department. Mike Van de Ven will join two other corporate officers, Bob Jordan, currently Southwest's controller, and Laura Wright, currently Southwest's treasurer, to create a finance department executive committee.
"Bob, Mike, and Laura have years of Southwest and financial experience and have done an extraordinary job in leading our finance department," said Kelly, currently Southwest's vice president finance and chief financial officer. "They are very capable and very deserving of this new responsibility."
Wright will take on the responsibility of vice president of finance in addition to her treasurer duties. She will be responsible for the airline's overall corporate finance strategy, its capital market and aircraft financing activities, new and used aircraft acquisitions, corporate tax, insurance programs, financial risk management activities, cash management and investing functions, and stock options. Wright joined Southwest in 1988 and has held many positions during her tenure with the airline including: director of corporate taxation, director of corporate finance, and assistant treasurer.
Van de Ven, who is currently senior director of financial planning, will become vice president of financial planning and analysis. He will be responsible for coordinating the airline's annual operating and capital spending plans, capacity forecasting, revenue and traffic anaylsis, investment analysis, finance Employee training, and providing analytical support and other financial services to various departments. Van de Ven joined the Southwest family in 1993. Throughout his last eight years with the company, Van de Ven held several positions including: director of internal audit, director of financial planning, and most recently senior director of financial planning and analysis.
Bob Jordan will complete the finance department executive committee with his experience as the airline's controller. As controller, Jordan oversees the Company's internal and external financial reporting and accounting activities, accounting operational areas such as payroll and accounts payable and receivable, and activities related to sales and revenue transaction processing.
"I look forward to these three well-qualified leaders overseeing the finance department," Kelly said. "Through their collaborative efforts, Southwest Airlines will be well poised to continue its rich history of financial success."
Southwest Airlines, now the nation's fourth largest carrier in terms of Customer boardings, serves 58 airports in 57 cities in 29 states. The airline currently has more than 30,000 Employees and operates more than 2,750 flights a day.
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