SAS Group has selected Danish insurance company Codan/Trygg-Hansa's head, Rickard Gustafson, as its new president and chief executive, to succeed Mats Jansson.

Gustafson will take up his post by March 2011, although Jansson is to step down on 1 October.

SAS Group deputy chief John Dueholm will steer the company until the transfer is complete.

Gustafson has led Codan/Trygg-Hansa for the past four years and previously held senior positions at GE Capital.

He is an "experienced leader", says SAS Group chairman Fritz Schur, who has "demonstrated that he can generate good results" and will be able to continue the development of the airline company's 'Core SAS' restructuring programme.

Source: Air Transport Intelligence news