Paul Jacobson, CFO, Delta Air Lines American airline,Delta Air Lines Inc announced that it would not be parting with its long-serving Executive Vice President and Chief Financial Officer (CFO), Paul Jacobson. The CFO has withdrawn his decision to retire to help steer the company through the economic upheaval stirred by the coronavirus (COVID-19) pandemic.
Currently, countries across the globe have restricted air travel to contain the virus spread, leaving airlines struggling to manage their liquidity.
“I asked Paul Jacobson to reconsider his decision to retire from Delta. I am happy to announce that Paul has agreed to rescind his retirement and continue as our Executive Vice President and Chief Financial Officer,” wrote Ed Bastian, CEO, Delta Air Lines in a company memo to his employees.
In February, Jacobson had announced that he would step down once the airline had found a successor and the transition was complete.
With over two decades of experience, Jacobson has rich experience in finance, strategy, capital allocation and debt reduction. He joined the airline in 1997 as a financial analyst. and has held several leadership positions including; the Senior Vice President, Finance and Treasurer for Delta in 2005.
Further in March 2012, he became the Executive Vice President and CFO. Being a natural leader, he has been instrumental in numerous key initiatives such as purchase of Trainer oil refinery, balance sheet initiatives that have resulted in nearly $10 billion in debt reduction, expansion of T4 facility at New York-JFK airport and Delta’s return to the S&P 500 index as well as upgrades to Delta’s credit rating in recent years.
Jacobson is also serving on the Board of Trustees for the Auburn University Foundation, Board of Visitors at the Owen Graduate School of Management and Harbert College of Business Advisory Board in Auburn.
He has done Aviation Management and Business Administration from Auburn University and Owen Graduate School of Management at Vanderbilt University respectively.
Delta Air Lines, Inc. is a major airline of the United States and a legacy carrier. It is headquartered in Atlanta, Georgia and operates in 52 countries across six continents.