JetBlue has announced changes to its board of directors, with Jesse Lynn and Steven Miller stepping down with immediate effect.
The departures come under the terms of an agreement reached between JetBlue and Icahn Enterprises L.P. in 2024. That agreement requires Icahn Enterprises to maintain a minimum beneficial ownership of JetBlue’s outstanding shares in order to retain representation on the airline’s board.
Following the two departures, JetBlue’s board will consist of 11 members, ten of whom are independent.
Changes Come Two Years Into JetForward Strategy
JetBlue CEO Joanna Geraghty thanked Lynn and Miller for their contributions during the development and early implementation of the airline’s JetForward strategy.
“We appreciate the constructive contributions of Jesse and Steven as we established and began to execute our JetForward strategy,” Geraghty said.
“Two years into JetForward, we’re encouraged by the progress we’re making and the results we’re driving across the business, and we have demonstrated our confidence in our value creation opportunity through our 2028 EPS target.”
JetForward is JetBlue’s broader business strategy aimed at improving financial performance and strengthening the airline’s competitive position, with the carrier setting an earnings-per-share target for 2028 as part of its longer-term plans.
Carl C. Icahn also commented on the board changes, describing the relationship with JetBlue as constructive.
“We appreciate the constructive partnership with JetBlue over the years as they have reshaped the airline and we look forward to seeing them continue to successfully execute the JetForward strategy,” Icahn said.
JetBlue Board Reduced to 11 Members
With Lynn and Miller leaving, JetBlue will continue with an 11-member board, including ten independent directors.
The New York-based carrier currently serves more than 100 destinations across the United States, Latin America, the Caribbean, Canada and Europe.
In addition to its New York base, JetBlue maintains a significant presence in markets including Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan.
