JetBlue Founder Steps Aside

"David's talents are entrepreneurial," Baldwin said. "As a company grows from startup to major player, the skills needed for senior leadership roles evolve. Public company benchmarking is customary to split the CEO and chairman positions due to the specific areas of responsibility those positions hold."

Barger, a 10-year veteran of Continental(CAL Quote - Cramer on CAL - Stock Picks), joined JetBlue in 1998 as president and chief operating officer.

The carrier began flying in February 2000. Since its first flight from Kennedy to Fort Lauderdale, Fla., JetBlue has grown into a major airline with 52 destinations and more than 575 daily flights.

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