Oscar Munoz has been named the new president and CEO. Munoz will also continue to serve on the board of directors, which Henry L. Meyer III will head as non-executive chairman.

Munoz has experience serving in various financial and strategic roles at large brands, including AT&T, Coca-Cola, and Pepsico. Most recently he served as the president and COO at CSX Corporation, a premier transportation company.

Meyer has commented on the change in management:

Oscar’s track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United’s upward trajectory. United is well positioned to continue executing on its strategic plan to further improve performance and the value and service it provides to its customers. I’m honored to have been elected non-executive chairman by my fellow directors. The board thanks Jeff for his service to both United Airlines and Continental Airlines

The company also announced that its executive vice president of communication and government affairs and senior vice president of corporate and government affairs will be stepping down alongside Smisek. The news release states that these executives have left in response to an ongoing federal investigation.