US Airways announced today that Rakesh Gangwal has resigned from his position as President and Chief Executive Officer of US Airways Group, Inc. and US Airways, Inc. Gangwal’s departure is based upon his decision to work in the field of private equity and venture capital.
Gangwal said: “I am grateful for having had the opportunity to contribute to US Airways over the last several years. In particular, I shall hold in the highest regard the professionalism and loyalty of US Airways’ employees and wish them the very best in the future.”
Stephen M. Wolf, Chairman of US Airways Group and US Airways, Inc., who will reassume the position of Chief Executive Officer at both companies, said: “Rakesh has contributed significantly to US Airways during his time with the Company. While we are disappointed with his decision to seek a new career path, we wish him and his family all possible success in their future endeavors.”
“The company’s focus going forward, working with a superb group of employees, will be on operational excellence and creating shareholder value,” Wolf said.
Reporters needing additional information should contact US Airways Corporate Communications at (703) 872-5100.