Delta CEO To Retire, Bastian To Succeed

Delta Air Lines announced that President Ed Bastian would replace Richard Anderson as chief executive.

Anderson will retire as CEO effective May 2 and become Delta's executive chairman after that, the company said in a statement.

Anderson has led the airline since 2007 and his retirement has been long expected.

"Ed definitely has what it takes to keep Delta at the top of the industry," Sterne Agee CRT analyst Adam Hackel said.

Hackel said he was "not worried at all about the transition."

Delta also said Glen Hauenstein, executive vice president, would take over as president from Bastian.