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Etihad CEO Hogan To Leave This Year
25 January 2017, 10:23 | Felicia Christensen
Etihad boss James Hogan
In a statement, Etihad says that Hogan's "transition process" started past year with the formation of the Group.
Mr. Hogan, who led Etihad Airways for over a decade before last year establishing the aviation group that also manages investment in other carriers, will leave the company in the second half of this year. The Etihad Airways statement did not say where Hogan was moving to, only stating that he was joining an investment company.
Hogan, 60, joined Etihad Airways in 2006 and has presided over the airline's incredible growth from an upstart regional player with 22 aircraft to a global power with more than 120 aircraft and another 204 on order. "The Board and management team will continue an ongoing, company-wide strategic review. We must ensure that the airline is the right size and the right shape". "We must continue to improve cost efficiency, productivity and revenue", he said.
In December a year ago, Etihad Airways said it was cutting jobs in some parts of its business as a part of its restructuring.
That has seen Etihad announce plans to start a new European joint venture leisure airline group with TUI, and also concluding a major wet-lease deal between Air Berlin and Lufthansa group.
Meanwhile, Alitalia, of which Etihad purchased a 49% stake in 2014, has been ordered by creditors to develop a cost-saving restructuring plan by February to stem mounting losses.
James Hogan will step down as president and CEO of the group in the second half of 2017. Under his leadership, the company has provided new opportunities for thousands of Emiratis and has been a critical element in the remarkable progress of Abu Dhabi and the UAE.
Mazrouei added: "Etihad is a great business with strong fundamentals and a deeply experienced aviation and airline management team".
There were also efforts to turn things around at at airberlin (through leasing aircraft to a Lufthansa subsidiary) and Alitalia (which is undergoing yet another restructure).
But stakes in airlines such as Alitalia and Air Berlin mired the carrier in cash-losing operations that it had little authority to control due to its minority-ownership status, which were required under European Union regulations. Accordingly, the company stated that it would be cutting jobs across both airlines as a result of its partnerships consistently failing to return profits. They include Etihad Cargo, Etihad Airways Engineering, Hala Abu Dhabi, Etihad Airport Services, Etihad Flight College and the Global Loyalty Company, which is bringing together a range of frequent flyer programmes, in addition to the core Etihad Airways operation.
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