One CEO takes a noble stand

Gerard J. Arpey may be “the only airline CEO who regarded bankruptcy not simply as a financial tool but, more important, as a moral failing,” said D. Michael Lindsay at The New York Times.

D. Michael Lindsay

The New York Times

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Arpey long opposed that strategy, though he acknowledges that American suffered against competitors that profited by axing pensions and medical benefits. Of the hundreds of executives I’ve interviewed for a study about leadership, Arpey stands out for believing that a CEO is obliged to honor a company’s moral obligations, “even if doing so blunts financial success.” He may be “the only airline CEO who regarded bankruptcy not simply as a financial tool but, more important, as a moral failing.” He leaves with his honor intact, but his departure is a “troubling commentary on American business.”