budget carrier Vueling
Airlines has appointed former Spanair
chief Lars Nygaard
as its new CEO following its recent organisational overhaul.
Vueling underwent a
management shake-up earlier this month in the wake of a strategy and management
rift between its co-founders and key shareholder Grupo Planeto’s
part of a deal to restore shareholder relations, Vueling co-founders CEO Carlos Munoz and chief
operating officer Lazaro Ros agreed to step down from
their executive roles effective from 25 November. Vueling chairwoman Barbara Cassini is also leaving
her position, to be succeeded by Josep
Vueling has named Nygaard as its new CEO following
unanimous agreement from its board, where Inversiones Hemisferios
recently regained representation.
says: “Nygaard will take
over from the current chief executive and founder of the airline, Carlos Munoz,
who will remain as a member of its board of directors.”
became CEO of SAS Group’s Spanair
in October 2005, after being promoted from the role of chief financial and
chief commercial officer.
this month Nygaard, who has been with SAS since 1991, revealed
he was leaving Spanair for a new position outside of SAS Group. He will
take up the Vueling post no later than 1 January 2008.
Vueling, which has been struggling financially, recently slowed its growth plans
and warned of possible full-year losses. It is due to stage an
extraordinary general meeting on 26 November, when its strategic options – such
as a merger or acquisition with another low-cost carrier – will be reviewed.