Glenn Tilton
Encyclopedia
Glenn Fletcher Tilton is Chairman of the Midwest, and a member of the Executive Committee, at JP Morgan Chase (NYSE:JPM), a position he has held since June 6, 2011. Tilton is also non-executive Chairman of United Continental Holdings
Inc., (NYSE:UAL), the parent company of United Air Lines, Inc. and Continental Airlines, Inc. as of October 1, 2010. Tilton was formerly Chairman, President, and CEO of UAL Corporation from 2002-2010.
Tilton is also the former Chairman of the Air Transport Association, the industry trade organization representing U.S. airlines.
Tilton grew up in Latin America, and attended high school in Brazil, where his father worked for the United States' Central Intelligence Agency
. After earning a bachelors degree in International Relations from the University of South Carolina
, Tilton wanted to start a career in the airline industry, but was warned against it by a family friend, the manager of the Pan American Airways Latin America Division. Tilton listened to the friend's advice and went on to follow his father's footsteps and join the C.I.A. but months before his start date, Tilton began a career in the private sector working for Texaco in 1970, servicing gas stations throughout Washington, D.C.
Tilton attained positions of increasing responsibility over the next three decades, and in early 2001 Tilton was briefly named chairman and chief executive officer before Chevron and Texaco merged to form ChevronTexaco Corporation. He was named vice chairman of the newly merged company in late 2001 and a few months later he was also named interim chairman of Dynegy, in which ChevronTexaco held a significant stake.
In September 2002, Tilton was recruited by the Board of Directors of the struggling UAL Corporation to be Chairman, President, and CEO, replacing John W. Creighton, Jr.
as Chairman and CEO, and Rono Dutta
as President. The board believed that an airline outsider such as Tilton could turnaround the struggling carrier. UAL Corporation and its subsidiaries filed for bankruptcy in December, 2002, three months into Tilton's tenure.
What would follow would be one of the largest, longest, and most complex bankruptcy cases in American history. UAL Corporation operated in bankruptcy until February 2, 2006.
Tilton is controversial for his stance as a major advocate for consolidation in the airline industry. Tilton has stated he believes it is the only way to end commercial aviation's cycles of booms and busts. Since 2006, Tilton has been searching for a merger partner for United Airlines. In May 2010, Tilton inked a deal to merge UAL Corporation with Continental Airlines, Inc. to form United Continental Holdings, Inc. of which Tilton is now Chairman.
Tilton serves on the board of directors of Abbott Laboratories and a member of the U.S. Travel & Tourism Advisory Board. Tilton also serves on the board of trustees for the Field Museum and the Museum of Science and Industry, and the board for the Economic Club of Chicago, the Executives' Club of Chicago, and After School Matters, as well as on the civic committee of the Commercial Club of Chicago and the International Relations Advisory Council of Chicago 2016.
. Tilton, an avid horse rider and collector, also maintains a ranch in Santa Fe, New Mexico.
United Continental Holdings
United Continental Holdings, Inc. , is a publicly traded airline holding company, incorporated in Delaware with headquarters in the United Building in Chicago, Illinois. UCH owns and operates United Airlines, Inc. and Continental Airlines, Inc. both of which use the trade name United Airlines...
Inc., (NYSE:UAL), the parent company of United Air Lines, Inc. and Continental Airlines, Inc. as of October 1, 2010. Tilton was formerly Chairman, President, and CEO of UAL Corporation from 2002-2010.
Tilton is also the former Chairman of the Air Transport Association, the industry trade organization representing U.S. airlines.
Tilton grew up in Latin America, and attended high school in Brazil, where his father worked for the United States' Central Intelligence Agency
Central Intelligence Agency
The Central Intelligence Agency is a civilian intelligence agency of the United States government. It is an executive agency and reports directly to the Director of National Intelligence, responsible for providing national security intelligence assessment to senior United States policymakers...
. After earning a bachelors degree in International Relations from the University of South Carolina
University of South Carolina
The University of South Carolina is a public, co-educational research university located in Columbia, South Carolina, United States, with 7 surrounding satellite campuses. Its historic campus covers over in downtown Columbia not far from the South Carolina State House...
, Tilton wanted to start a career in the airline industry, but was warned against it by a family friend, the manager of the Pan American Airways Latin America Division. Tilton listened to the friend's advice and went on to follow his father's footsteps and join the C.I.A. but months before his start date, Tilton began a career in the private sector working for Texaco in 1970, servicing gas stations throughout Washington, D.C.
Tilton attained positions of increasing responsibility over the next three decades, and in early 2001 Tilton was briefly named chairman and chief executive officer before Chevron and Texaco merged to form ChevronTexaco Corporation. He was named vice chairman of the newly merged company in late 2001 and a few months later he was also named interim chairman of Dynegy, in which ChevronTexaco held a significant stake.
In September 2002, Tilton was recruited by the Board of Directors of the struggling UAL Corporation to be Chairman, President, and CEO, replacing John W. Creighton, Jr.
John W. Creighton, Jr.
John W. Creighton, Jr. is an American businessman who has worked with many corporations, organizations, and universities. These include Weyerhaeuser Company, United Air Lines, the University of Puget Sound, civilian aide to the Secretary of the Army, and the Boy Scouts of America...
as Chairman and CEO, and Rono Dutta
Rono Dutta
Rono Dutta is the former President of United Airlines from 1999 to 2002.From July 2004 until 2006 he served as Chairman of Air Sahara.In 2007, Mr. Dutta joined US based AAR Corporation as a strategic adviser for the Indian market.-External links:**...
as President. The board believed that an airline outsider such as Tilton could turnaround the struggling carrier. UAL Corporation and its subsidiaries filed for bankruptcy in December, 2002, three months into Tilton's tenure.
What would follow would be one of the largest, longest, and most complex bankruptcy cases in American history. UAL Corporation operated in bankruptcy until February 2, 2006.
Tilton is controversial for his stance as a major advocate for consolidation in the airline industry. Tilton has stated he believes it is the only way to end commercial aviation's cycles of booms and busts. Since 2006, Tilton has been searching for a merger partner for United Airlines. In May 2010, Tilton inked a deal to merge UAL Corporation with Continental Airlines, Inc. to form United Continental Holdings, Inc. of which Tilton is now Chairman.
Tilton serves on the board of directors of Abbott Laboratories and a member of the U.S. Travel & Tourism Advisory Board. Tilton also serves on the board of trustees for the Field Museum and the Museum of Science and Industry, and the board for the Economic Club of Chicago, the Executives' Club of Chicago, and After School Matters, as well as on the civic committee of the Commercial Club of Chicago and the International Relations Advisory Council of Chicago 2016.
Personal
Tilton speaks 3 languages - English, Spanish, and Portuguese. Tilton and his wife, Jackie, have two children. He lives in ChicagoChicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
. Tilton, an avid horse rider and collector, also maintains a ranch in Santa Fe, New Mexico.
External links
- http://www.pbs.org/wgbh/pages/frontline/retirement/world/bankruptcy.html
- http://www.chicagobusiness.com/cgi-bin/news.pl?id=27372&seenIt=1
- http://www.guardian.co.uk/business/2008/aug/12/unitedairlines.union.glenntilton
- http://www.frontrow.bc.edu/program/tilton/ Tilton addresses Boston Chief Executive Club
- The Oil Man in the Jump Seat: How Glenn Tilton is Struggling to Stop United Airlines Crashing (The Economist)
- Biography (Star Alliance)