Late, after-close press release tonight announcing the departure of Frontier Airlines’ CEO Jeff Potter. According to the release,

“Frontier Airlines Holdings, Inc. (Nasdaq: FRNT – News) today announced that its President and Chief Executive Officer, Jeff Potter, will resign to accept a new position outside of the airline industry. Potter has been Frontier’s President and CEO since April 2002 and has been with Frontier in various capacities since 1995. Potter’s new position will be announced next week and his resignation will be effective after Frontier’s annual stockholders meeting on September 6, 2007. The Frontier Board of Directors has commenced a search for his successor.”

Potter, who according to the release has accepted another position outside of the airline industry, will remain a member of the airline’s board of directors.

Whoa boy. This is one CEO position that I would not want to take on. The airline, which is on our PlaneBusiness Titanic Watch, just announced yet another set of weak quarterly earnings numbers last week.

Ticker: (Nasdaq: FRNT)

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