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Ed Bastian

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Ed Bastian
Bastian in 2017
Born (1957-06-06) June 6, 1957 (age 67)
Poughkeepsie, New York, U.S.
EducationSt. Bonaventure University (BBA)
TitleChief executive officer of Delta Air Lines
TermMay 2, 2016 – present
PredecessorRichard Anderson
Board member ofAeroméxico, Atlanta Committee for Progress, Metro Atlanta Chamber of Commerce, Woodruff Arts Center, Virgin Atlantic, Greater Atlanta Christian School
Children4

Edward Herman Bastian (born June 6, 1957) is an American business executive. He is the ninth and current chief executive officer of Delta Air Lines, serving in this role since May 2, 2016.[1]

Early life and education

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Bastian grew up in Poughkeepsie, New York, the oldest of nine children. His father was a dentist and his mother was a dental assistant. The couple operated a dental practice from within the family home.[2] He graduated from Our Lady of Lourdes High School in Poughkeepsie in 1975.[3]

In 1979, Bastian received a Bachelor of Business Administration in accounting from St. Bonaventure University in St. Bonaventure, New York.[4]

Career

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Bastian began his career as an auditor in New York City at Price Waterhouse, now PricewaterhouseCoopers (PwC). During a 1981 annual review, he uncovered a $50 million fraud scheme involving ad powerhouse J. Walter Thompson.[2] This prompted a U.S. Securities and Exchange Commission investigation, leaving many PwC executives with marred careers. A few years later, Bastian was named partner at age 31.[2]

After PwC, he served as vice president at PepsiCo, where he managed international finances for its Frito-Lay snack division until 1998, when he joined Delta Air Lines as vice president - finance and controller.[5] In 2000, he was promoted to senior vice president – finance and controller.[6]

Delta Air Lines

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Bastian left Delta in 2005 to become senior vice president and chief financial officer at Acuity Brands. Six months later, at the request of then-Delta CEO Gerald Grinstein, he returned to the airline to serve as chief financial officer.[7] In 2007, he was appointed to president, a position he held until assuming the role of CEO in May 2016.[8] His transition to CEO was the first time Delta had chosen a chief executive officer from within the company since 1987.[9]

In 2019, Bastian was the only airline chief executive to skip a meeting at the White House between President Donald Trump and airline executives, justifying the decision by explaining that it conflicted with his international vacation.[10]

In 2023, Bastian's total compensation from Delta was $34.2 million, representing a CEO-to-median worker pay ratio of 336-to-1.[11]

In 2024, Delta Air Lines went into a weeklong operational meltdown following the 2024 CrowdStrike incident while peer airlines quickly resumed normal operations.[12] During and after the operational collapse, Bastian and Delta faced criticism for doing only the "bare minimum" for consumers and only after pressure from regulators and politicians while Bastian avoided interviews and attended the Olympics in Paris.[13][14][15][16] The Association of Flight Attendants accused him of taking a “first class seat” to Paris instead of taking ownership of the massive meltdown.[17] Meanwhile, a commentator described Bastian's decision to fly to Paris at the height of the meltdown as "the most Marie Antoinette thing any business could do".[18]

After Trump's re-election victory in the 2024 presidential election, Bastian said that Trump's presidency would be a "breath of fresh air" for airlines after the government “overreach” under President Joe Biden.[19] The Biden administration had implemented various consumer-protection regulations targeting airlines, such as automatic refunds after canceled flights and requirements that airlines to advertise the full price of fares upfront.[19] Under Bastian's leadership, Delta sued the Biden administration for requiring greater transparency in the fees that airlines charged consumers.[19]

Personal life

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A father of 4,[20] he splits his time between Atlanta, where Delta Air Lines is headquartered, and Florida.[21]

Awards and recognition

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References

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  1. ^ "Delta announces executive succession". Delta News Hub. Delta Air Lines. February 3, 2018. Retrieved December 17, 2018.
  2. ^ a b c Tully, Shawn (November 27, 2018). "Delta Buckles Up For Turbulence". Fortune. Retrieved December 17, 2018.
  3. ^ "Edward Bastian '75". www.ollchs.org. Our Lady of Lourdes High School. Retrieved 1 November 2021.
  4. ^ Belcher, Mark (February 4, 2016). "St. Bonaventure grad to take over for Delta Air Lines CEO Anderson as he retires". WIVB-TV. Retrieved December 17, 2018.
  5. ^ Kelly Yamanouchi, The Atlanta Journal-Constitution. "Delta CEO departing, successor named". ajc. Retrieved 2020-03-31.
  6. ^ Executive, Chief (2018-01-02). "Edward Bastian Restructures Delta Into The "Winningest" Airline". ChiefExecutive.net. Retrieved 2020-03-31.
  7. ^ Cohen, Brian. "Ed Bastian to Succeed Richard Anderson as Chief Executive Officer of Delta Air Lines". The Gate. BoardingArea. Retrieved December 17, 2018.
  8. ^ "Edward Bastian Restructures Delta Into The "Winningest" Airline". Chief Executive. January 2, 2018. Retrieved December 17, 2018.
  9. ^ Blau, Max (April 28, 2016). "Can new Delta CEO Ed Bastian continue the airline's success?". Atlanta. Retrieved December 17, 2018.
  10. ^ Leff, Gary. "Delta's CEO Explains Why He Skipped A Meeting With President Trump". Forbes. Retrieved 2024-09-05.
  11. ^ Anderson, Mae; Harloff, Paul; Ortutay, Barbara (2024-06-03). "CEOs made nearly 200 times what their workers got paid last year". AP News. Archived from the original on 2024-09-03. Retrieved 2024-09-04.
  12. ^ Schlappig, Ben (2024-07-22). "Delta Has Operational Meltdown, Thousands Of Flights Cancelled". One Mile at a Time. Retrieved 2024-09-05.
  13. ^ Schlappig, Ben (2024-07-24). "Delta Needs To Take Accountability For Meltdown, Drop The Hubris". One Mile at a Time. Retrieved 2024-09-05.
  14. ^ Leff, Gary (2024-07-24). "Where Was Ed? Delta CEO Fled To Europe During Airline Meltdown". View from the Wing. Retrieved 2024-09-05.
  15. ^ Aten, Jason (July 28, 2024). "Delta CEO Ed Bastian Faces Intense Criticism for Heading to Paris Days After the Airline Canceled Thousands of Flights". Inc.
  16. ^ Leff, Gary (2024-07-24). "Where Was Ed? Delta CEO Fled To Europe During Airline Meltdown". View from the Wing. Retrieved 2024-09-05.
  17. ^ Rosales, Chris Isidore, Isabel (2024-07-24). "Delta's CEO went to Paris Olympics as his airline struggles to recover from massive meltdown | CNN Business". CNN. Retrieved 2024-09-05.{{cite web}}: CS1 maint: multiple names: authors list (link)
  18. ^ none (2024-07-29). "Delta spent years building a premium reputation. Then it had a meltdown". West Hawaii Today. Retrieved 2024-09-05.
  19. ^ a b c "Delta CEO says the Trump administration will reverse government 'overreach' seen under Biden". AP News. 2024-11-20.
  20. ^ "5 things to know about Delta CEO Ed Bastian". AJC.com. June 20, 2016. Retrieved December 28, 2018.
  21. ^ Purcell, Amanda J. (April 5, 2016). "Poughkeepsie native named CEO of Delta Air Lines". Poughkeepsie Journal. Retrieved December 17, 2018.
  22. ^ "Metro Atlanta Chamber Announces 2021 Chair And Launches New Digital Tool To Promote The Region". Metro Atlanta Chamber. November 29, 2018. Retrieved December 17, 2018.
  23. ^ "The World's 50 Greatest Leaders". Fortune. April 19, 2018. Retrieved December 17, 2018.
  24. ^ Simmons, Kenna; Percy, Susan (February 2018). "2018 Georgia Trustees". Georgia Trend. Retrieved December 16, 2018.
  25. ^ "Highest Rated CEOs 2017". Glassdoor. Retrieved December 6, 2018.
  26. ^ "Q&A with Ed Bastian, 2017 Most Admired CEO". Atlanta Business Chronicle. July 31, 2017. Retrieved December 17, 2018.
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