NATION
Stephen M. Wolf announced his resignation as president of Republic Airlines, fulfilling a pledge to leave the carrier following government approval of its merger with Northwest Airlines.
The Department of Transportation last week approved the merger between the two Minneapolis-based carriers, which will create the country’s third-largest airline. The deal was first announced in January, and Wolf had said he’d resign when it was completed.
Officials at Republic have confirmed that Wolf, 44, will collect about $3.3 million after taxes under the merger agreement that his company signed with Northwest.
Red Tyler, a public relations official with Republic, said Wolf has not disclosed his plans. Wolf was not available for comment.
Wolf joined Republic early in 1984 when the airline was in financial trouble. He stemmed its losses and obtained wage concessions from Republic employees.
Before coming to Republic, Wolf was president of Continental Airlines. Earlier, he was with Pan American World Airways as senior vice president of marketing following 15 years at American Airlines.
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