Spirit Airlines announces leadership shake-up as CEO and CCO step down
Spirit Airlines announced major leadership changes today, including the immediate departure of its President and Chief Executive Officer (CEO), Ted Christie, and its Chief Commercial Officer (CCO), Matt Klein. The transition comes just weeks after the airline emerged from Chapter 11 bankruptcy and in the midst of a major strategic shift away from its ultra-low-cost model.
Ted Christie, who had led the company since 2019, has stepped down from his position and from the Board of Directors effective immediately. While the board searches for a permanent replacement, Spirit will be overseen by an interim "Office of the CEO" consisting of Chief Financial Officer (CFO) Fred Cromer, Chief Operating Officer (COO) John Bendoraitis, and General Counsel Thomas Canfield.
Likewise, Matt Klein is stepping down as Executive Vice President and CCO. He will be succeeded by Rana Ghosh, who has served as Senior Vice President and Chief Transformation Officer since June 2024 and now takes over as Senior Vice President and CCO.
Robert Milton, Chairman of Spirit’s Board of Directors, thanked Christie for his “tireless efforts” during his 13 years with the company, highlighting his leadership through the COVID-19 crisis, key strategic junctures, and the recent corporate restructuring.
The low-cost king is dead—long live the (not-so-low-cost) king
These changes come at a pivotal moment for Spirit. The airline voluntarily filed for Chapter 11 bankruptcy protection on November 18, 2024, citing the failed merger attempt with JetBlue (blocked on antitrust grounds), mounting debt, and operational challenges.
Spirit successfully exited bankruptcy on March 12, 2025, following a financial restructuring that reduced its debt by approximately $795 million through a debt-to-equity conversion and secured a new $350 million equity investment.
Now, with a stronger financial foundation, Spirit is aiming to redefine its market position. The company is rolling out a strategy to shift from an ultra-low-cost carrier to a higher-value or “premium” offering, aiming to enhance the onboard experience and attract a new segment of travelers—all with the goal of increasing revenue per passenger.
The departure of Christie and Klein, along with Ghosh’s promotion—he is widely regarded as the architect of the transformation—highlights Spirit’s commitment to this strategic pivot and its efforts to stabilize following a turbulent period. The new leadership team faces the challenge of consolidating the airline’s financial recovery and positioning it to compete beyond the low-cost model that once set it apart.
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