Javier Ferran has been named as the successor to IAG chairman Antonio Vazquez, following unanimous approval by the group’s board of directors.
IAG says that Vazquez announced his intention to retire in January 2021 after reaching nine years in office last January, which is the maximum recommended in the UK corporate governance code. He will stay on as chairman for the remainder of 2020 to enable an orderly transition.
Spaniard Ferran, who is an independent director of IAG, has experience in the consumer, finance, sales and marketing sectors and is a former president and chief executive of Bacardi Group.
“Antonio has shown great leadership in his management of the Board and has succeeded in getting the best out of everyone in good times and bad,” says IAG chief executive Willie Walsh.
“Together we have created a group that has become a benchmark in the aviation industry. I thank Antonio for his friendship, his dedication during all these years, and for his work and defence of the company’s interests and that of its shareholders.”
Vazquez says he is “deeply proud of what we have built together, and I am confident that the strength and character of IAG will enable it to navigate the difficult circumstances we find ourselves in”.