The board of Spirit Airlines now has a new leader. The company announced that the man formerly occupying the position, William Franke, resigned his post earlier today. The board has elected H. McIntyre Gardner as his replacement.

Franke's was not the only board resignation of the day. Spirit Airlines said that John Wilson also stepped down as a director.

Gardner has been on the board since July 2010. He also served as chairman of the air carrier's audit and nominating and corporate governance committees. Previously, he was the head of the Americas region and global bank group, private client at Merrill Lynch, now a division of Bank of America. Before that, he served as president and COO at privately held personal care products maker Helen of Troy.

The article Spirit Airlines Chairman Steps Down originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Bank of America. It also owns shares of Spirit Airlines. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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