'Continue the climb' | CVG names new airport CEO as Candace McGraw retires
HEBRON, Ky. — An airport veteran is flying east to lead the Cincinnati/Northern Kentucky International Airport.
Larry Krauter will take over as CVG's chief executive officer in March. He currently holds the top job at the Spokane International Airport. Krauter has spent more than 30 years in the airport industry, starting at the Columbus airport and spending time at the Lehigh Valley airport in Pennsylvania.
"It is a privilege to be here," Krauter said.
The Ohio State University graduate will oversee a campus with 16,000 badge holders, more than 8 million annual passengers and 2 million annual tons of cargo.
"We have a really well-running operation here, and the intention now is just to continue the climb, continue to add the value, continue to push on the flywheel of the economic engine," he said. "When we do that, we help create jobs. We help create better jobs that move people up the economic ladder."
Researchers at the University of Cincinnati found that the airport had an annual economic impact of $9.3 billion in 2023. In 2012, it was $3.5 billion.
Introducing Krauter, CVG Airport board chair Lisa Sauer said retiring CEO Candace McGraw leaves the airport "at the top of our game" after inheriting it when it was "struggling."
"We have built an airport that not only has commercial service, but quite a strong cargo business, and she has put us in good stead," Sauer said.
McGraw piloted the airport following the loss of its Delta hub, the arrival of new low-cost carriers, and its emergence as a global cargo superpower. She helped land a deal with Amazon to build an air hub in 2017.
The airport is one of the fastest-growing cargo airports in the world. It's the sixth-largest by volume in North America and the twelfth-largest in the world, according to spokesperson Mindy Kershner.
The incoming CEO acknowledged that he had big shoes to fill, but said he's excited about "joining a team that's going to make that really possible."
"We're going to continue to find ways to innovate. We're going to continue to find ways to be more efficient and do things better and better, and better together," Krauter said.
CVG currently has more than 50 nonstop flights. Krauter said he'd like to see both more airlines and existing airlines with more routes.
"Let's find ways to, say, deepen the schedule as an example, and let's find ways to figure out how to get connected up with other markets that we may not have served right now," he said.
He said he'll define success for a first year by building out its hangar row cargo village, "ideally" adding additional air service, remaining financially strong and connecting with partners.
"I think everybody understands the value proposition of CVG, which is continuing to transform the economy of Northern Kentucky and Cincinnati," said Krauter.
