Brenneman takes
CEO position at
PwC Consulting

The executive failed in his attempt
to merge Aloha and Hawaiian

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By Dave Segal
dsegal@starbulletin.com

Greg Brenneman, who couldn't make the proposed Hawaiian-Aloha airlines merger fly despite intense lobbying, was in the air yesterday winging his way to a new job.

Brenneman, widely mentioned as a leading candidate to take over as chief executive at United Airlines parent UAL Corp., was scheduled to touch down about midnight Eastern Daylight Time in New York after accepting a position as president and chief executive of Pricewaterhouse Coopers Consulting.

The 40-year-old Brenneman will be in charge of piloting the division through its initial public offering this summer as it splits from parent New York-based Pricewaterhouse Coopers LLP. He will report to Samuel DiPiazza, the accounting firm's chairman and senior partner, until PwC Consulting, which provides management consulting and technology service, is separate. After that, Brenneman will report to PwC's board.

Brenneman will replace Tom O'Neill, 57, who becomes chairman of PwC Consulting. O'Neill will handle the separation of the consulting business from its accounting firm parent.

Brenneman became a recognizable figure in Hawaii in December when he burst onto the scene intent on consolidating the state's two major airlines into a new company called Aloha Holdings Inc. The proposed merger, which came on the heels of the Sept. 11 terrorist attacks, ignited immediate debate. Supporters of the deal said it was necessary to have one strong airline rather than two weak ones. Opponents said it would result in higher air fares and fewer jobs. In the end, Hawaiian Airlines called off the merger in March after changes it proposed brought objections from Aloha.

Brenneman, who is leaving his current position as chairman and CEO of private equity firm TurnWorks Inc. in The Woodlands, Texas, said through a statement that his new company "has some of the best talent in the world, an incredible client base, and an exciting future."

He was unavailable for further comment.

The split between the auditing and consulting divisions of Pricewaterhouse Coopers comes at a time when Enron Corp.'s collapse has exposed the industry to conflicts of interest.

"We have found an accomplished, experienced executive who understands the unique opportunities and challenges of leading a public company in a time of transition, while bringing considerable consulting experience to his role," DiPiazza said. "Greg's drive for change and performance are the right combination as he leads PwC Consulting through its separation from Pricewaterhouse Coopers."

Brenneman, the former president and chief operating officer of Continental Airlines, together with current CEO Gordon Bethune is credited with turning around the ailing carrier. Brenneman, who founded TurnWorks in 1994, returned to the company in May 2001 after nearly six years with the airline.