American Airlines CEO Doug Parker to retire in March

American Airlines Group Inc said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him.

Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement. Parker was named chairman and CEO of the Texas-based airline in 2013.

Shares of the airline rose 2.6% before the bell.

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