‘It’s a new normal’ — Delta CEO Ed Bastian on changing role of a CEO during trying times

The role of the CEO has dramatically shifted as companies learn to walk a fine line between stakeholder capitalism versus meeting the needs of their company’s balance sheet. Delta CEO Ed Bastian said that he never expected he would be addressing the pace of change we are seeing in the world. “I think it’s a new normal,” Bastian said. “Once you are committed to bringing everyone forward in an equitable manner, I don’t think there’s another path.” Bastian detailed the company’s road back to profitability after a year of loss and unprecedented political and social unrest. Delta saw its stock tumble 30% in the past 12 months. The carrier reported a Q4 net-loss of nearly $12.4b for fiscal year 2020. Bastian said that with continued government support, vaccine distribution and mask compliance he believes people will feel more comfortable flying this summer. Bastian added that Delta’s decision on whether to keep the middle seat blocked, the only airline to do so through March 2021, will be determined in the coming weeks. Beyond pandemic pressures weighing on its bottom line, Delta has remained focused on its efforts regarding diversity and environmental, social and corporate governance, with Bastian pushing for continued growth at the company. “We found that our Black colleagues have not had the opportunity that our White colleagues have had for advancement, development and opportunity,” he acknowledged. “I’m very focused on correcting that.” Story has more.<br/>