The board of administrators of Worldwide Airways Group has accepted the succession plan for its chairman, Antonio Vázquez.
Having reached 9 years in workplace final January, the utmost really helpful within the UK company governance code, Vázquez will step down in January.
In his place, the board has unanimously accepted 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 accepted by the following annual common shareholders assembly.
This may allow him to assist the succession of the following chief govt, with Willie Walsh anticipated to depart within the coming months.
Walsh stated: “I sincerely respect Antonio’s work within the creation and growth of the group.
“The administration workforce and I’ve at all times counted on his dedication, dedication and assist.
“Antonio has proven nice management in his administration of the board and has succeeded in getting the perfect out of everybody in good occasions and dangerous.
“Collectively we’ve got created a gaggle that has turn out to be a benchmark within the aviation business.”
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, primarily based on income.
Ferrán stated: “It’s a large privilege to turn out to be IAG chairman and take over from Antonio.
“I want to thank my fellow board members for his or her assist and belief.
“I’m dedicated to main the group by way 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 business.”