US Airways Board Elects George M. Philip

26th Oct 2004

The US Airways Group,
Inc. board of directors today elected George M. Philip to the board.
Philip is the executive director of the New York State Teachers’
Retirement System. Additionally, the board named Ronald E. Stanley as
chief financial officer, replacing David M. Davis, who is resigning from
the company to accept a position with KRATON Polymers LLC, based in
Houston. Philip has served as the executive director of the New York State
Teachers’ Retirement System since 1995. He has been with the public
pension fund since 1971 and is one of the country’s leading public pension
executives. The New York State Teachers’ Retirement System manages a
portfolio of more than $59 billion in equity and fixed income investments
for more than 375,000 public school educators in New York. Philip holds a
bachelor of arts and masters of arts degree from the State University of
New York at Albany, and a J.D. degree from the Western New England College
School of Law.

“George Philip is an outstanding addition to the US Airways board. He
brings extensive finance experience and knowledge that will be valuable as
we transform US Airways,” said Dr. David G. Bronner, US Airways Group,
Inc. chairman.

Stanley joined the US Airways board of directors in May 2004, and has
served as chairman of the board’s audit committee since that time. He has
extensive finance experience and was previously chief operating officer
and director of HSBC Equator. He also held several key positions within
the Royal Bank of Canada Group, including senior vice president and
general manager- Europe, Middle East and Africa; chairman of RBC Europe
Ltd.; and member of the executive committee of RBC Dominion Securities.

Reporting directly to Stanley will be Anita P. Beier, senior vice
president and controller, and Eilif Serck-Hanssen, senior vice president
and treasurer. In addition to his current duties, Serck-Hanssen will
assume the responsibilities for financial planning & analysis, corporate
real estate and information technology.

Davis joined US Airways in April 2002 as vice president of financial
planning and analysis. He was promoted to executive vice president and
chief financial officer in the spring of 2004.


“Dave was presented with a very unique opportunity by a company that
clearly recognizes his talent and we understand his decision. We
appreciate the fact that he has agreed to stay with us through November to
assure a smooth transition,” said Bruce R. Lakefield, US Airways president
and chief executive officer. “I am grateful that Ron has agreed to step
into this position and lend his vast finance experience and leadership to
help us complete our restructuring. He has played an active role on the
board since May, and as chairman of the audit committee, he has quickly
immersed himself into virtually all aspects of the company.”


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