Spirit Airlines, the United States ultra-low-cost carrier, announced executive management changes to take place in 2018-2019. The Chief Financial Officer Ted Christie is joining the company's Board of Directors and assuming the role of President effective on January 1, 2018, with the intention to replace the current Chief Executive Officer Bob Fornaro on January 1, 2019.

"Spirit is fortunate to have a talented executive like Ted on hand as its next leader, which allows for a smooth and orderly transition," said Mac Gardner, Spirit Airlines Chairman of the Board. "Over the past two years as CEO, Bob has led a real transformation at Spirit, driving dramatic improvements in operational reliability and in the customer experience while strengthening our executive team. He has also provided nimble, experienced leadership through a volatile competitive environment."

Christie joined Spirit in 2012 as Senior Vice President and Chief Financial Officer, and in 2017 assumed the role of Executive Vice President with the additional responsibility of marketing, pricing, revenue management and scheduling.

"I've known Ted for over 10 years, as a competitor, board member and as a colleague in management. I am confident that the company and our team will respond very favorably to his leadership," said Bob Fornaro, Spirit Airlines President and CEO. "I'm really proud of what the whole Spirit team has accomplished. We've steadily improved our operational reliability and have introduced significant new technology and processes that allow us to run better and improve our guest experience. In 2018, I expect us to continue investing in the operation to further improve reliability and push down costs. We also will focus on concluding a mutually beneficial agreement with our pilots."

"I am appreciative of all the support from Bob and the Board, and am delighted to continue working with the Spirit team," said Christie. "With our improved operations, balanced growth and stable costs, I'm confident we will strengthen our position as the leading ultra-low-cost carrier in the Americas."