Air Transport World

Continental's Bethune to step down at yearend.(Chairman Gordon Bethune)(Brief Article)

Continental Airlines Chairman and CEO Gordon Bethune will retire at the end of 2004, to be succeeded by President and COO Larry Kellner. Bethune, who led the transformation of Continental "from worst to first," in his own words, reportedly is leaving as the result of a long-running feud with powerful board member David Bonderman. In part, the disagreement was said to be over Bonderman's investments in other airline properties. Bonderman is stepping down as a director in March along with three other directors and the board will be reduced to 10 members.

Bethune joined Continental in 1994, at a time when the carrier was teetering on the brink of financial collapse. …

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