The board of administrators of Worldwide Airways Group has authorized the succession plan for its chairman, Antonio Vázquez.
Having reached 9 years in workplace final January, the utmost advisable within the UK company governance code, Vázquez will step down in January.
In his place, the board has unanimously authorized the appointment of unbiased director Javier Ferrán.
Vázquez will proceed to chair the board of administrators for the rest of 2020 topic to his proposed re-election as director being authorized by the subsequent annual basic shareholders assembly.
This may allow him to assist the succession of the subsequent chief govt, with Willie Walsh anticipated to depart within the coming months.
Walsh stated: “I sincerely respect Antonio’s work within the creation and improvement of the group.
“The administration staff and I’ve all the time counted on his dedication, dedication and assist.
“Antonio has proven nice management in his administration of the board and has succeeded in getting one of the best out of everybody in good instances and unhealthy.
“Collectively we’ve created a bunch that has grow to be a benchmark within the aviation trade.”
Worldwide Airways Group is without doubt one of the largest airline teams on the earth with 548 plane.
It’s the third largest group in Europe and the sixth largest on the earth, based mostly on income.
Ferrán stated: “It’s a large privilege to grow to be IAG chairman and take over from Antonio.
“I wish to thank my fellow board members for his or her assist and belief.
“I’m dedicated to main the group by means of this disaster and dealing with Luis to construct a robust future, wherein the group will proceed to take a number one position within the trade.”
