The Board of Directors of AMR Corporation, the parent company of American Airlines (AA), has named Thomas W. Horton chairman and chief executive officer of the company.

Horton is to succeed Gerard Arpey, who this week informed the Board of his decision to retire. Horton will also succeed Arpey as chairman and chief executive officer of American. Horton will continue to serve as president of AMR and American.

Horton was named President of AMR and American in July 2010. Previously, Horton served as executive vice president – finance and planning and chief financial officer of AMR and American. He was named to that position in March 2006.

“The process launched today will no doubt require far-ranging and sometimes difficult change, but it represents an opportunity to rebuild American in a way that assures its ability to compete in a changed world,” Arpey said.

He added, “I appreciate the Board's confidence in me, but I also believe that executing on this plan requires a new leader for a new time. That is why I informed the Board of my decision to retire and, with my enthusiastic support, the Board decided to appoint Tom as CEO.”