Air New Zealand (ASX:AIZ) CEO reduces executive team

Air New Zealand (ASX:AIZ) Chief Executive Officer Greg Foran is reducing the size of his executive team from nine to six as the airline adapts to a much smaller scale in the wake of the impacts of the Covid-19 pandemic.

Mr Foran said the company is creating a structure, as they have done in all parts of the business, that is appropriate for an airline which Air New Zealand expects will take two years to get back to 70 percent of its former size.

Chief Strategy Networks and Alliances Officer Nick Judd and Chief Air Operations and People Safety Officer John Whittaker will leave the airline in the coming months, with Chief Marketing and Customer Officer Mike Tod stepping away full-time but continuing to provide advisory support.

Mr Foran says the portfolios of the three departing Executives will be absorbed by the remaining members of the Executive team.

Shares in Air New Zealand (ASX:AIZ) are trading 0.9 per cent lower at $1.16.
 
Copyright 2020 – Finance News Network

Source: Finance News Network