DENVER—The parent company of Frontier Airlines said Monday its executive vice president and chief financial officer is stepping down.
Frontier Airlines Holdings said Paul Tate will take a job outside the commercial airline industry but did not give specifics.
Tate has been executive vice president and CFO of the Denver-based low-cost airline since September 2001.
“Paul has been the guardian of our finances for almost seven years now, and he has guided us through what have arguably been some of our toughest financial times,” said Frontier President and CEO Sean Menke.
He praised Tate’s “guidance, foresight and business acumen.”
Tate’s resignation is effective March 21. Frontier said a search is under way for a successor.
It was the second time in six months a high-level Frontier Holdings executive has resigned.
Former CEO Jeff Potter announced his resignation in August and was replaced by Menke.
Frontier Holdings shares closed Friday up 16 cents to $3.32. The markets were closed Monday for the Presidents Day holiday.
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