Thomas G. Plaskett

Thomas G. Plaskett is an American business executive who served as CEO of Continental Airlines, Pan American World Airways, and Greyhound Lines.

Thomas G. Plaskett
CEO of Pan American Corp.
In office
1988–1991
Preceded byC. Edward Acker
Succeeded byRussell L. Ray Jr.
CEO of Continental Airlines
In office
1986–1987
Preceded byFrank Lorenzo
Succeeded byFrank Lorenzo
Personal details
Alma materGeneral Motors Institute
Harvard Business School

American Airlines

Plaskett began his career at American Airlines. He spent twelve years there, rising to the position of senior vice president, marketing.[1][2] At American, Plaskett played a major role in creating the country's first frequent flyer club and advance-purchase discount fares.[1][2][3]

Continental Airlines

In October 1986 he became the president and CEO of Continental Airlines. That autumn he was named one of the nation's 10 most-desired managers by Fortune. On February 1, 1987, Continental Airlines doubled in size as the operations of People Express, Frontier Airlines, and New York Air merged into Continental's. The overnight combination of the airlines led to poor service that caused a loss of passengers. Additionally, Plaskett had to deal with low morale among the company's expanded and relatively low paid workforce.[3]

In July 1987 he was fired by Frank Lorenzo, the chairman of Continental Airlines' parent company Texas Air Corporation. Lorenzo blamed Texas Air Corporation's deficit to Continental's "disappointing" performance under Plaskett. The Wall Street Journal, citing company sources, described his tenure as CEO as "marked by clashes and discomfort with the freewheeling management style that permeates Texas Air. His emphasis on deliberation and his more traditional corporate style...didn't sit well with more established managers". He was succeeded by Lorenzo.[3]

After his dismissal from Continental, Plaskett ran a consulting business in Dallas, Texas.[4]

Pan American World Airways

In January 1988, Plaskett was named president, CEO, and chairman of Pan American Corp.[1] In January 1991, the company entered bankruptcy court protection. That September he was replaced as CEO by Russell L. Ray Jr. on October 1, 1991.[5]

Fox Run Capital Associates and Greyhound Lines

After leaving Pan American, Plaskett became managing director of Fox Run Capital Associates, a private merchant banking and consulting firm. In May 1994 he was elected to the board of directors of Greyhound Lines. In late 1994 he served as Greyhound's interim president, CEO, and CFO. From 1995 to 1999 he served as chairman of Greyhound's board of directors. He also served as a director of several other companies, including NeoStar Retail Group, RadioShack Corporation, Smart & Final, Inc., and Novell.[6][7][8]

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References
  1. Agin, Teri (January 22, 1988). "Pan Am Appoints Plaskett to Top Posts". The Wall Street Journal.
  2. "AMR's American Air Names 2 Executives To Succeed Plaskett". The Wall Street Journal. November 12, 1986.
  3. Thomas, Paulette (July 22, 1987). "Continental Air Dismisses Plaskett; Lorenzo to Step In". The New York Times.
  4. Agin, Teri (January 20, 1988). "Pan Am May Select Thomas G. Plaskett, Ex-Continental Officer, to Succeed Acker".
  5. "New Pan Am chief optimistic". The Boston Globe. September 24, 1991.
  6. "Greyhound Lines Inc. Picks Thomas Plaskett As Its New Chairman". The Wall Street Journal. March 3, 1995.
  7. "Novell Names Thomas G. Plaskett to Board of Directors". PR Newswire. PR Newswire Association LLC. November 4, 2002. Retrieved April 16, 2017.
  8. Maria V. Georgianis (23 September 1996). "News Analysis:NeoStar had only one choice". Computer Retail Week.
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