United CEO Oscar Munoz to step down in 2020

United Airlines CEO Oscar Munoz will step down in May, transitioning into the role of executive chairman, CNBC reports.

What's next: The airline's current president, Scott Kirby, will take over as CEO, ending industry speculation that he might jump ship to American Airlines. His ascension had been expected on Wall Street, as Kirby was hired by Munoz in 2016 improve United's performance and profits.

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