Please ensure Javascript is enabled for purposes of website accessibility

Delta CFO Paul Jacobson to Retire

By Lou Whiteman - Feb 28, 2020 at 12:39PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The airline is losing its long-time financial chief.

Delta Air Lines (DAL 0.09%) CEO Ed Bastian is in search of a new copilot following the Friday decision by CFO Paul Jacobson to retire after more than two decades with the airline.

Jacobson, though just 48, joined Delta in 1997 and was named chief financial officer in 2012. He worked in the company's finance office during Delta's 2005 to 2007 bankruptcy, and the subsequent merger with Northwest Airlines.

A group of Delta employees at a ribbon cutting for a new plane.

Image source: Delta Air Lines.

In the years since, Delta has been among the most innovative companies in the airline industry, revamping its pricing strategy to better-compete with discounters, buying stakes in foreign partners to gain international exposure and solidify alliances, and even investing in a refinery to ensure a steady supply of jet fuel.

"Paul played a crucial role in Delta's bankruptcy process and the strategy that led Delta to regain our investment-grade balance sheet while also investing billions in our people, product and service," Bastian wrote in a memo to employees that was released by the company.

Jacobson will not be leaving immediately. Delta said he has agreed to stay on until a successor is named and through a transition period.

Lou Whiteman owns shares of Delta Air Lines. The Motley Fool owns shares of and recommends Delta Air Lines. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Delta Air Lines, Inc. Stock Quote
Delta Air Lines, Inc.
DAL
$33.96 (0.09%) $0.03

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
390%
 
S&P 500 Returns
125%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/12/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.