WestJet Airlines Ltd. announced a surprise executive shakeup Monday, with changes coming to its top ranks within weeks.
Canada’s second-largest carrier said chief executive Sean Durfy announced Monday he will step down effective April 1 and executive vice-president of operations Gregg Saretsky will take over as new CEO.
A spokesman for the Calgarybased carrier declined further comment, saying more details would be released today.
In a statement, Durfy, 43, cited personal reasons for his resignation, which will also see him step down from WestJet’s board of directors after nearly four years at the helm.
"This was a very difficult decision for me; however, after careful consideration, I have decided that this is best for me and my family," Durfy said.
"Those things I set out to accomplish at WestJet have now been achieved and I believe this is an appropriate time to allow others to carry the torch while I spend more time with my young family."
Durfy, a former Enmax executive, joined WestJet in 2004 to head up the airline’s marketing, sales and airport operations functions.
In September 2006 he was appointed president and became CEO a year later, taking over the reins from retiring WestJet founder Clive Beddoe.
Durfy will remain with WestJet until Sept. 1, to help with the transition, the airline said.
Saretsky joined the carrier last June, serving as head of WestJet Vacations before moving to operations.
He started his airline career in 1985 with Canadian Airlines, and joined Alaska Airlines in 1998, where he worked for 10 years.
"I’m absolutely delighted by this new opportunity," Saretsky said in a statement.
"WestJet has been the envy of the airline industry for a number of years."
Durfy continued a significant expansion of WestJet’s network during his tenure, said one analyst who noted there were no signals the airline was planning executive changes.
"If we look at his tenure at WestJet, he proved he could manage growth and he proved he could manage an airline during very, very difficult times," said Rick Erickson, head of Erickson & Associates, a Calgarybased aviation consulting firm.
"Durfy managed the slowdown and he has WestJet on a steady bearing."
Durfy put Caribbean and U.S. sunspot and leisure destinations on the carrier’s roster, Erickson said. That shift to seasonal markets likely helped the airline come out of one of the toughest times for the industry, Erickson said.
WestJet was one of only a few North American carriers to turn a profit in the fourth quarter, although the airline’s earnings were down more than 60 per cent from the same period a year ago. The airline industry was hit by a drop in passenger traffic last year, as the recession and H1N1 flu scare cut into travel.
WestJet had been struggling with the implementation of its new reservation system, which caused major delays and snarls for bookings in the fall. Earlier this month, it launched its long-delayed loyalty program.
lschmidt@theherald.canwest.com
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