Southwest Airlines hired Tom Doxey as its new chief financial officer. Doxey is considered an industry expert with experience working with the likes of Allegiant Air and US Airways. He recently worked as senior advisor for Breeze Airways.
Doxey will also work as Southwest’s executive vice president starting March 10, according to the airline’s statement. He is set to replace Tammy Romo, a Southwest veteran executive who is expected to retire on April 1. The airline announced last January that Romo would retire after three decades.
Romo has worked for the airline as its CFO since 2012 and joined the company in 1991. Her retirement signals changes in the company’s leadership. Last year, former CEO and executive chairman Gary Kelly left Southwest along with the appointment of several new directors as the airline attempted to boost its profits.
Southwest’s Chief Executive Officer Bob Jordan thinks that Doxey’s “experience in strategic transformation” is an asset for the airline.
Southwest’s Rebuilding Strategy
Southwest’s profit last quarter may have improved compared to the same period in 2023, reaching $261 million, compared to a loss of $252 million in 2023. However, Southwest still has a long way to go, as its full-year profit for 2024, $464 million, matched that of 2023. In an earnings call, Jordan acknowledged that the airline’s structure is “not where we want it to be.”
The airline has come up with its own rebuilding strategy. In an effort to appeal to travelers seeking premium options, the airline changed its seating strategy. It now offers assigned seating and select seats with extra legroom. This marked a departure from its traditional free-for-all seating model.
Doxey joined JetBlue Airways in 2021 during the pandemic. Before working at JetBlue, he also worked with United Airlines Holdings Inc., holding different positions. This included overseeing United’s global maintenance, supply chain, and engineering teams, as well as leading its fleet transaction and planning teams. Doxey also worked for Allegiant Air and US Airways.