National Post Canada Financial Top News - Mar 17, 2010WestJet Airlines Ltd (WJA)
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Ben Cherniavsky
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Raymond JamesDurfy's resignation [late on Monday] was unexpected, although not tremendously surprising to us," said Ben Cherniavsky, a Raymond James analyst, who added that there have been mounting reports of "internal unrest" at WestJet in the past year. In addition, the carrier has a cutthroat corporate culture under founder and chairman Clive Beddoe, despite its sunny "
WestJetter" image. In recent years, at least five top executives have either left or been shown the door after apparent conflicts with Mr. Beddoe's direction for the airline. In 2000, then president, Stephen Smith left the airline just 19 months into his term after running afoul of the airline's chairman.
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<span class="sent">Durfy's resignation [late on Monday] was unexpected, although not tremendously surprising to us," said <span class="analyst">Ben Cherniavsky</span>, a Raymond James analyst, who added that there have been mounting reports of "internal unrest" at <span class="company">WestJet</span> in the past year.</span> In addition, the carrier has a cutthroat corporate culture under founder and chairman Clive Beddoe, despite its sunny "<span class="company">WestJet</span>ter" image. In recent years, at least five top executives have either left or been shown the door after apparent conflicts with Mr. Beddoe's direction for the airline. In 2000, then president, Stephen Smith left the airline just 19 months into his term after running afoul of the airline's chairman.
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