United Continental CEO steps down amid federal investigation
United Continental Holdings, Inc. said Tuesday that its chief executive and two other senior executives had stepped down amid a federal investigation into dealings with the Port Authority of New York and New Jersey. CEO Jeff Smisek will be replaced on a permanent basis by Oscar Munoz, most recently the chief operating officer of CSX Corp. United said Smisek and two other executives -- the airline's vice president of communications and government affairs and senior vice president of corporate and government affairs -- are departing in connection with an internal investigation into allegations of attempts to woo the former Port Authority chairman to grant United funding for several projects as it completed its merger with Continental. United shares fell 0.4% in late trading after closing with a 1.5% gain at $57.53.
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