Delta President to Retire After 20 Years. How He Transformed the Airline—and the Stock.

Delta’s president Glen Hauenstein will retire in February after 20 years at the airline. (Photograph by Jamie Squire/Getty Images)

Delta Air Lines has impressively navigated the turbulence of its 100th year but the carrier will fly into the next chapter of its history without one of its most influential figures.

The airline’s president Glen Hauenstein will retire in February after more than 20 years of service, Delta announced Thursday. He will stay on as a strategic advisor until the end of 2026.

It’s just as well he’s sticking around. The company said Hauenstein has been integral to Delta’s revenue premium strategy. It’s an area of strength that has enabled it—along with rival United Airlines—to stand out from its competitors.

He may even stay long enough to see the airline’s premium revenue fly past its main cabin ticket sales—Delta says that it may reach that milestone in 2026. In its most recent quarterly earnings, premium products made up 43% of passenger revenue.

Delta added that Hauenstein led the team that grew the carrier’s primarily domestic operation to a global presence flying to six continents.

“Glen’s vision and strategic mindset have been essential in transforming Delta into the leading global airline we are today,” CEO Ed Bastian said in a memo to employees.

Following his departure, Joe Esposito will be promoted to executive vice president and chief commercial officer.

Raymond James analyst Savanthi Syth said Hauenstein is “viewed as a visionary and highly respected across the industry and investment community,” early Thursday in reaction to the news.

She added that while the timing was uncertain, the announcement wasn’t a surprise, noting that he initially planned to retire in 2020. “Importantly, we believe Glen Hauenstein has built up a strong team that we believe will continue to execute and evolve his vision with Mr Esposito’s leadership,” Syth added.

The stock has had a great run during Hauenstein’s time at the company, climbing 206% on a price return basis since it emerged from bankruptcy and began trading again in April 2007, according to Dow Jones Market Data. Over the same period United is up 198% and Southwest Airlines has risen 182%, while American has fallen 37% since it began trading again in December 2013.

Delta stock is up 15% this year, through Wednesday’s close, amid a strong recovery from its 52-week lows in April when President Donald Trump’s tariffs plans spooked airline investors and hit demand. The shares are up 101% since those lows.

Wall Street is bullish on Delta, with 89% of analysts covering the stock rating it Buy. They have an average price target of 76.03, implying a 9% upside to Wednesday’s close. The shares pointed 1.5% higher ahead of the open, after falling 2% in the previous session.

Write to Callum Keown at callum.keown@dowjones.com