Exhibit 99.1
CONTACT: Al Becker
Corporate Communications
Fort Worth, Texas
817-967-1577
corp.comm@aa.com
FOR RELEASE: Wednesday, March 29, 2006
AMR CORPORATION APPOINTS THOMAS W. HORTON
EXECUTIVE VICE PRESIDENT - FINANCE AND PLANNING AND CFO
AMR Also Announces Other Key Executive Appointments
That Further Strengthen Its Management Team And Provide For
Succession As AMR Prepares For A Greater Role
In The Global Aviation Marketplace
FORT WORTH, Texas - In a move that brings added
strength and experience to its strategic leadership team as
the company becomes a stronger global competitor, AMR
Corporation, the parent company of American Airlines, today
announced the appointment of Thomas W. Horton as Executive
Vice President - Finance and Planning and Chief Financial
Officer.
Horton returns to AMR and American from AT&T, where he
most recently had been Vice Chairman and Chief Financial
Officer after joining that company from AMR as CFO in June
2002. Since then, Horton has played a pivotal role in
strengthening AT&T's core business and building value for
its shareholders. He was credited with improving AT&T's
cost structure and reducing debt by more than two-thirds.
He also had responsibility for corporate strategy and
ultimately, the structuring of AT&T's successful merger with
SBC.
In his new role as AMR's Executive Vice President -
Finance and Planning, Horton will also be CFO, responsible
for all of the Company's finance functions, including
financial planning, treasury, corporate development,
accounting, tax, investor relations, a business unit that
provides investment services, and purchasing. In addition,
Horton will have overall responsibility for all planning
functions led by Henry C. Joyner, American's Senior Vice
President - Planning. These include capacity planning,
revenue
-- more --
management, corporate real estate, international planning,
activities related to American's membership in the global
oneworld alliance, and fleet planning.
"All of us at AMR are thrilled to welcome Tom Horton
back to the leadership team," said Gerard Arpey, AMR's
Chairman and CEO. "Tom is an executive of extraordinary
insight and ability who served our Company with distinction
in many roles, including Chief Financial Officer, before
going on to do great things at AT&T. His broad knowledge of
the challenging airline industry and keen understanding of
the financial markets will be enormous assets to AMR as we
continue the vital work of restoring the Company to
sustained profitability in a global aviation marketplace."
With the expected retirement of two key executives in
the next few years, American also announced today several
other major appointments to further strengthen the
management team and develop more refined lines of succession
in several critical areas as the airline positions itself to
become a stronger and more vibrant global competitor. Those
planning retirement are Peter J. Dolara, American's Senior
Vice President - Miami, the Caribbean and Latin America, who
pioneered the airline's services in those regions and guided
their growth into some of the most successful portions of
American's network; and William F. Quinn, President of
American Beacon Advisors, AMR's investment services unit,
who founded that enterprise in 1986 and grew the business to
a point where today it manages more than $45 billion in
pension assets and short-term cash assets on behalf of
American and outside clients. Mindful of these changes,
American announced the following:
Two senior international appointments were made to
address the changes that will result from Dolara's future
retirement and to better position American globally for long-
term competitive success. Craig S. Kreeger was named Senior
Vice President - International, and C. David Cush was
appointed Senior Vice President - Global Sales. At present,
Kreeger is responsible for all sales and ground operations
activities in Europe and Asia as Vice President - Europe and
Pacific Division, based in London. Cush currently is Vice
President and General Sales Manager, responsible for leading
American's domestic sales team and for developing all sales
policies worldwide, including those relating to key
distribution systems. Under the transition that will take
place when Dolara retires, Kreeger will become responsible
for all ground operations in
-- more --
Latin America, Europe and Asia, and Cush will be responsible
for all sales activities worldwide, including those in Latin
America, Europe and Asia.
Douglas G. Herring, currently American's Vice President
and Controller, will become President of American Beacon
Advisors, eventually succeeding Quinn, who will continue as
the unit's chief executive officer and chairman, and remain
on the American Beacon Mutual Fund Board.
Isabella (Bella) Goren was named Senior Vice President
- - Customer Relationship Marketing and Reservations. In this
new role, Goren will continue to oversee the full range of
on-line customer interactions, including expanding customer
relationships through personalized service via the AA.com
Web site, and the operation of American's reservations
centers. In addition, Goren will be responsible for the
airline's industry-leading AAdvantage travel awards program,
led by Kurt Stache, President of AAdvantage.
Brian McMenamy was appointed Vice President and
Controller to succeed Herring. McMenamy is currently
American's Managing Director - Airline Profitability and
Financial Analysis.
Dolara and Quinn, the two executives planning
retirement, are remaining in their respective roles so they
can work closely with their successors in the coming years
to ensure a smooth and successful transition of leadership
in their important areas of responsibility.
"The willingness of Peter Dolara and Bill Quinn to
remain in their posts and help with the transition is yet
another expression of the complete dedication and commitment
that has distinguished their outstanding careers," Arpey
said. "All of us at American are deeply appreciative of
their support.
"The executive moves we are announcing today will
strengthen American for the long-term future and reflect
well on the depth of the Company's management team," Arpey
said. "These are times of unprecedented challenge and
change in the airline industry, and the appointments we are
announcing today will put American in an even stronger
position to continue the substantial progress that has
already been made under the tenets of our Turnaround Plan."
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