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 really helpful 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 following annual basic shareholders assembly.
It will allow him to help the succession of the following chief government, with Willie Walsh anticipated to depart within the coming months.
Walsh mentioned: “I sincerely admire Antonio’s work within the creation and growth of the group.
“The administration staff and I’ve at all times counted on his dedication, dedication and help.
“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 now have created a gaggle 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 mentioned: “It’s a big privilege to grow to be IAG chairman and take over from Antonio.
“I wish to thank my fellow board members for his or her help and belief.
“I’m dedicated to main the group by means of this disaster and dealing with Luis to construct a powerful future, by which the group will proceed to take a number one function within the trade.”