Malev CEO quits over pay

London
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Hungarian flag carrier Malev is beginning the search for a new chief executive after the departure of Martin Gauss in a row over pay.

Gauss has resigned but will play an "active part in the management" of the re-nationalised carrier until the end of May, said a company spokeswoman.

Failure to agree Gauss' remuneration level has been cited as the reason for his departure. Hungary's state holding company MNV, which has a 95% stake in Malev, "is following monthly wage limit requirements regarding the compensation of the state-owned company employees," the airline said in a statement.

The Hungarian government has not yet decided on Gauss' successor or when a new appointment will be made, the spokeswoman adds.

Gauss took over the helm of Malev in May 2009. He was previously chairman of Germany-based Cirrus Airlines and Augsburg Airways as well as managing director of low-cost carrier DBA, which has since been taken over by Air Berlin.