American Airlines Group Inc. announced that Greg Smith had been named independent chairman of the company's board of directors, effective April 30, 2023.

Smith, 56, will succeed Doug Parker, who will retire from the board at that time.

In its announcement, American Airlines said Smith's appointment is part of the board's long-term succession planning process.

"Our CEO transition has been flawless thanks to the great work of Robert Isom, his team and our board," Parker said.

Parker, was the CEO of American Airlines for more than eight years before leaving last year for the chairman post at the airlines.

"Now is the right time for our chairman transition, and we are fortunate to have Greg Smith in place to assume that role. Greg has made outstanding contributions since joining American's board, and his strong knowledge of the aviation industry and his decades of leadership experience will be invaluable going forward," Parker added.

 Greg Smith (Source: American Airlines)

Smith joined American's board in January 2022 after a more than 30-year career at The Boeing Company. He most recently served as Boeing's executive vice president and chief financial officer.

"It's an honor and privilege to serve as a board member and now as chairman of this iconic company," Smith said.

"Due to the leadership and dedication of Doug, Robert and the entire American team, we are well-positioned to take the airline to the next level of excellence. The board and I look forward to working with Robert and this great team as we lead American Airlines into the future."

Isom, for his part, lauded Parker's leadership at American Airlines as he thanked him for the partnership over the past year as he took on the CEO role.

"I look forward to continuing to work with the board and Greg [Smith] in his new role as we shape the American Airlines of the future," Isom added.

In addition, Ray Robinson and Jim Albaugh will retire from American's board at the end of the current term, which coincides with the company's upcoming annual meeting of stockholders.

Robinson and Albaugh have served on American's board since 2005 and 2013, respectively.