Monarch opts not to replace chief executive
Monarch has opted to continue without a chief executive following the sudden departure of the former head Conrad Clifford late last year after less than 12 months in the job.
The company said today that instead executive chairman Iain Rawlinson would take over all chief executive functions.
At one time Rawlinson had said the search for a new chief executive was well advanced and that the company was seeking someone with an aviation background to help turn around Monarch Airlines.
However, the company issued a statement today saying that the company had opted not to appoint a new chief executive.
It also announced that group chief operating officer Richard Mintern is leaving at the end of May after 23 years with the company to become chief executive of another organisation.
Robert Palmer, who has been working with Monarch as a consultant since last September, will take over as group finance director, replacing Simon Tucker who is also leaving the group. The company said further new appointments to the finance team would be announced shortly.
The company plans to appoint two new non-executive directors to strengthen the holding company Board.
The Board of Monarch Holdings currently consists of Rawlinson and Palmer and will be attended by the managing directors of the three core divisions: Kevin George of Monarch Airlines, Hugh Morgan of Monarch Travel Group and Mick Adams of Monarch Aircraft Engineering.
In a statement, Rawlinson said: "We are making good progress to date in implementing our turnaround plan and we are starting to see the benefits of our work in driving revenue, better asset utilisation and cost reductions coming through in results.
"We continue well on our path to improved financial performance, and we are keen to maintain consistency and stability in the top team as we deliver our current year results. We are making no changes in the senior management of the divisions, and we are streamlining Group functions to provide a lean and efficient structure."
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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