United's Michael Leskinen. (Photo Credit: United Airlines Media)
WHY IT RATES: United
Airlines shook up its leadership as it continues to capitalize on the
recovering travel industry.—Donald Wood, Breaking News Senior Writer.
United Airlines today announced that Michael Leskinen has
been promoted to Chief Financial Officer and Executive Vice President. In his
new role, he will oversee corporate finance, treasury, financial planning and
analysis, tax, accounting, investor relations, procurement, internal audit,
risk management and corporate strategy. Leskinen will also join the airline's
Executive Team.
"With two decades of experience on Wall Street and five
years as a leading finance executive at United, Mike brings a unique
understanding of the public markets combined with an in depth understanding of
our airline and our industry," said United CEO Scott Kirby. "He is
the best person to help us drive a culture within our finance team that's
focused on moving fast, hitting our targets with no excuses, and being
disciplined about capital and cost decision-making that supports our United Next
plan. I know Mike will bring a strong and independent strategic perspective to
the table when we're making decisions about United's future."
Leskinen joined United in 2018 as managing director of
Investor Relations and was promoted to vice president of Corporate Development
and Investor Relations in 2019. In 2021, he added the title of President of
United Airlines Ventures (UAV), an industry-first corporate venture capital
fund that identifies and invests in opportunities to decarbonize air travel and
enhance the customer travel experience. UAV has invested in carbon capture and
utilization technologies, advanced biologic feedstocks including micro-algae,
electric fixed-wing regional aircraft and electric vertical take-off and
landing aircraft (eVTOL).
In 2020, Leskinen led the multi-divisional team that
successfully raised $6.8 billion of financing secured by the airline's
MileagePlus loyalty program, an industry first giving United critical financial
flexibility to manage through the pandemic. More recently, Leskinen oversaw the
launch of a nearly $200 million corporate investment fund that includes
investments from UAV and other corporate and financial sponsors to support
start-ups focused on accelerating the research and production of Sustainable Aviation
Fuel (SAF). And through the first eight months of 2023, United was the best
performing North American airline stock.
Prior to United, Leskinen was an executive director at J.P.
Morgan Asset Management from 2013-2017, where he led the firm's investment
efforts in aerospace, defense, and airlines. And from 2009-2013, he worked at
Oppenheimer Funds focused on the aerospace sector. Leskinen received his
bachelor's degree in finance from Arizona State University and his M.B.A. from
the University of Pennsylvania. Leskinen and his wife Stephanie have six
children and live in the Chicago suburbs.
Earlier this year, United announced that prior CFO Gerry
Laderman would remain in the role until his successor was appointed and then
serve as EVP, Finance until his planned retirement in September 2024.
SOURCE: United Airlines
press release.
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