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Updated Thu. Sep. 7 2006 9:13 AM ET
Canadian Press
CALGARY -- Clive Beddoe is stepping down as president of WestJet (TSX:WJA), to be replaced by executive vice-president Sean Durfy, but will remain chief executive and chairman of the discount air carrier.
"Over the past two years I have progressively passed many of my duties over to our executive team as a natural progression of the growth of our company," Beddoe said in a statement Thursday.
"The results that this team has delivered clearly speak for themselves.''
Durfy was formerly executive vice-president of marketing, sales and airports.
The Calgary-based airline said it has also added three other executive vice-presidents to its management team: Bob Cummings in guest experience and marketing, Hugh Dunleavy in commercial distribution and Ken McKenzie in operations.
WestJet is a leading low-fare airline offering scheduled service throughout a 33-city North American network.
"Sean Durfy to become new WestJet president"
Moderators: lilfssister, North Shore, sky's the limit, sepia, Sulako, I WAS Birddog
Here is some more on that:
WestJet co-founder Clive Beddoe hands over president's role to Sean Durfy
By JAMES STEVENSON
CALGARY (CP) - WestJet Airlines (TSX:WJA) co-founder Clive Beddoe says he's relinquishing the president's role to bring new energy and younger leaders to the discount air carrier. But even as WestJet executive vice-president Sean Durfy tried on his new title Thursday, Beddoe, who remains chairman and chief executive, said he was not walking out on the Calgary-based airline he helped start 10 years ago.
"I am not leaving the company, I'm not going, I am very much involved and will remain actively involved," Beddoe said at a press conference Thursday morning.
"There's no reason for anybody in the company or our shareholders to be concerned that in any respect that I am leaving."
Beddoe has the been the face and voice of WestJet Airlines for the past decade, leading it from a western regional startup to Canada's second-largest airline with about 33 per cent of the domestic market.
The airline currently flies from Victoria to St. John's, N.L., and has now been directing its attention to expanding its schedule to sunspot destinations south of the Canadian border including California, Florida, Hawaii and most recently, to the Bahamas.
"As we get larger, we do need to develop and bring on new skill sets," said Beddoe said.
Along with Durfy's promotion to president, WestJet added three other executive vice-presidents to its management team, including Bob Cummings in guest experience and marketing, Hugh Dunleavy in commercial distribution and Ken McKenzie in operations.
Durfy, 40, joined WestJet less than two years ago after leaving his job as president and chief operating officer of the City of Calgary-owned utility, Enmax Energy Corp.
But in his 18-months in the Canadian airline industry, Durfy has seen two competitors disappear - including the sudden demise of Jetsgo in March 2005 and Halifax-based CanJet's decision this week to cease offering regularly scheduled flights.
Durfy's tenure also corresponds with a renewed competitive struggle with arch-rival Air Canada (TSX:ACE.B) now that the Montreal-based airline has emerged from restructuring. The entire industry has been under intense cost pressures with record fuel prices as oil has stubbornly remained near record highs.
Durfy said Thursday that he would not try to put his own stamp on the airline, with his greatest challenge being "to continue to keep the ball rolling as we expand into new markets and new areas across Canada and North America."
It is the second time that Beddoe has handed over the president's role at the airline. Back in 1999, Steve Smith was promoted to president and held the job before resigning a year later due to "a difference in philosophy as to management style." Smith later went on to launch a rival low-cost Calgary-based airline, the now-defunct Zip owned by Air Canada.
Beddoe said Thursday that the difference this time around is that Durfy has had "the luxury of being able to spend two years immersed in the culture of the company."
"This is a business that puts tremendous demands on you. It's a 24-hour a day, seven days a week business with 5,000 people involved plus nine million guests we'll move this year," he said.
"And to have that opportunity to share that responsibility with someone with a younger enthusiasm and energy. . . will bring nothing but benefit to the company."
One of the biggest milestones facing WestJet in the near future is the completion of its new reservation system, which has been delayed for more than a year.
When in place sometime next spring, the reservation system is expected to allow WestJet to form strategic alliances with other international carriers - a move that would significantly boost its load factor, or proportion of seats filled.
"It will be the single largest turning point, in terms of our future, that's on the immediate horizon."
Last month, WestJet posted record second-quarter profits of $22.4 million, a gain of nearly 900 per cent over last year, despite significantly higher fuel costs.
Still, its share price has been drifting lower for most of the year. In afternoon trading on the Toronto stock market Thursday, WestJet shares were down 14 cents, or more than one per cent, to $10.05.
WestJet co-founder Clive Beddoe hands over president's role to Sean Durfy
By JAMES STEVENSON
CALGARY (CP) - WestJet Airlines (TSX:WJA) co-founder Clive Beddoe says he's relinquishing the president's role to bring new energy and younger leaders to the discount air carrier. But even as WestJet executive vice-president Sean Durfy tried on his new title Thursday, Beddoe, who remains chairman and chief executive, said he was not walking out on the Calgary-based airline he helped start 10 years ago.
"I am not leaving the company, I'm not going, I am very much involved and will remain actively involved," Beddoe said at a press conference Thursday morning.
"There's no reason for anybody in the company or our shareholders to be concerned that in any respect that I am leaving."
Beddoe has the been the face and voice of WestJet Airlines for the past decade, leading it from a western regional startup to Canada's second-largest airline with about 33 per cent of the domestic market.
The airline currently flies from Victoria to St. John's, N.L., and has now been directing its attention to expanding its schedule to sunspot destinations south of the Canadian border including California, Florida, Hawaii and most recently, to the Bahamas.
"As we get larger, we do need to develop and bring on new skill sets," said Beddoe said.
Along with Durfy's promotion to president, WestJet added three other executive vice-presidents to its management team, including Bob Cummings in guest experience and marketing, Hugh Dunleavy in commercial distribution and Ken McKenzie in operations.
Durfy, 40, joined WestJet less than two years ago after leaving his job as president and chief operating officer of the City of Calgary-owned utility, Enmax Energy Corp.
But in his 18-months in the Canadian airline industry, Durfy has seen two competitors disappear - including the sudden demise of Jetsgo in March 2005 and Halifax-based CanJet's decision this week to cease offering regularly scheduled flights.
Durfy's tenure also corresponds with a renewed competitive struggle with arch-rival Air Canada (TSX:ACE.B) now that the Montreal-based airline has emerged from restructuring. The entire industry has been under intense cost pressures with record fuel prices as oil has stubbornly remained near record highs.
Durfy said Thursday that he would not try to put his own stamp on the airline, with his greatest challenge being "to continue to keep the ball rolling as we expand into new markets and new areas across Canada and North America."
It is the second time that Beddoe has handed over the president's role at the airline. Back in 1999, Steve Smith was promoted to president and held the job before resigning a year later due to "a difference in philosophy as to management style." Smith later went on to launch a rival low-cost Calgary-based airline, the now-defunct Zip owned by Air Canada.
Beddoe said Thursday that the difference this time around is that Durfy has had "the luxury of being able to spend two years immersed in the culture of the company."
"This is a business that puts tremendous demands on you. It's a 24-hour a day, seven days a week business with 5,000 people involved plus nine million guests we'll move this year," he said.
"And to have that opportunity to share that responsibility with someone with a younger enthusiasm and energy. . . will bring nothing but benefit to the company."
One of the biggest milestones facing WestJet in the near future is the completion of its new reservation system, which has been delayed for more than a year.
When in place sometime next spring, the reservation system is expected to allow WestJet to form strategic alliances with other international carriers - a move that would significantly boost its load factor, or proportion of seats filled.
"It will be the single largest turning point, in terms of our future, that's on the immediate horizon."
Last month, WestJet posted record second-quarter profits of $22.4 million, a gain of nearly 900 per cent over last year, despite significantly higher fuel costs.
Still, its share price has been drifting lower for most of the year. In afternoon trading on the Toronto stock market Thursday, WestJet shares were down 14 cents, or more than one per cent, to $10.05.
