Ferguson Leaves Helm of Revamped Continental Airlines

Robert R. Ferguson III, who led Continental Airlines through a bankruptcy reorganization and then spearheaded the airline’s low-fare CALite service that began a year ago, resigned Tuesday as the carrier’s chief executive and vice chairman.

The 45-year-old Ferguson, chief executive since mid-1991, said he will remain a Continental director but wants to “explore other career challenges.” He also was named a principal at Air Partners L.P., the investor group that is Continental’s major stockholder.

The airline’s president, Gordon Bethune, 53, will take over strategic and day-to-day operations for the Houston-based carrier, which emerged from bankruptcy reorganization in April, 1993.