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Delta Air Lines

Delta Air Lines CEO Anderson to retire, president takes over

Richard Anderson, who oversaw Delta Air Lines' transformation into one of the world's most profitable airlines, will retire this May. His right-hand man, airline president Ed Bastian, will take over as CEO, the Atlanta-based airline said Wednesday.

Anderson started as CEO in 2007, just after Delta exited bankruptcy protection. The next year, Delta merged with Northwest Airlines, a deal often cited as a model for future airline mergers, some of which did not go as smoothly.

Northwest would be Anderson's biggest deal, but not his last. Delta also purchased a 49 percent ownership stake in Virgin Atlantic to gain much-needed access to London and bought an oil refinery, an...