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Delta picks former energy executive for board

Mon, 12/03/2012 - 4:31pm
The Associated Press

Delta Air Lines Inc. said Monday that the former chairman and CEO of an oil and gas shipping and marketing company has joined its board.

William H. Easter III, led DCP Midstream LLC, a Denver-based natural gas-gathering and processing company, from 2004 to 2008. Prior to that, he spent about 30 years at Conoco and ConocoPhillips, working on supply, transportation and marketing of petroleum products.

A member of the board of oil and gas producer Concho Resources Inc., he is also a past director of Sunoco Inc.

In June, Delta bought an idle ConocoPhillips oil refinery near Philadelphia for $180 million in a move to find a cheaper source of jet fuel, which is the biggest expense at many airlines.

Delta shares fell 38 cents, or 3.8 percent, to close Monday trading at $9.62. The stock has traded between $9.60 and $10.01 in the past 52 weeks.

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