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United Continental CEO Plans to Return on Early 2016 Following Heart Attack, Ends Uncertainty on Who will Run the Airline

Nov 06, 2015 03:46 AM EST | By Jean-Claude Arnobit

Oscar Munoz, the president and CEO of United Continental Holdings Inc. said in a statement published on the company's website that he plans to return to work in the first quarter of 2016.

Munoz's plan to return ends any uncertainty on who will lead the airline.

Reuters adds that United's board of directors had been preparing "all potential outcomes" that may result from the hospitalization of Munoz last October 15, 2015.

Munoz was rushed to the hospital on that day due to a heart attack.

Reuters adds that United had earlier appointed Brett Hart, the company's general counsel, as the acting CEO.

Shares were unchanged in after-market trading following the new of Munoz's return.

Munoz said in his statement that he is on the "road to recovery."

"My time away will be a little longer than I would like, but based upon discussion with my doctors I will be back in the first quarter," he said.

He also thanked Hart and the management team of United in his statement for their leadership for embracing the company's new direction.

"I know each one of you is committed to achieving our full potential, continuing to focus on building and delivering our shared purpose of making United not only the best airline to fly, but also the best place to work," he said.

Reuters adds that investors are expected to welcome the news of Munoz's return to the company next year.

Munoz took over as CEO of United, the second-largest U.S. airline by capacity, in September and aims to rebuild morale following years of strained labor relations.

Reuters adds that Munoz spent his first month on the job travelling across the U.S. to hear from employees and travelers.

He was travelling to hear their opinion on how best to improve the airline.

Reuters adds that Hart vowed to continue Munoz's agenda while the latter recovers from the heart attack.

The company was able to put forward a tentative deal for maintenance workers under Hart's leadership.

Reuters adds that the deal paves the way for the first contract that will cover technicians from both United and Continental since the airlines merger in 2010.

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