United CEO Oscar Munoz to step down

 United Airlines CEO Oscar Munoz is stepping down from his post and will become executive chairman.

The airline said Thursday that President J. Scott Kirby will be its new CEO. Munoz will become executive chairman in May 2020.

Munoz led the company through a choppy period, and in 2017 gave up his bonus after the forcible removal of a ticketed passenger led to widespread criticism.

Shares of United Airlines Holdings Inc., based in Chicago, are up 5% this year.