New boss at Aer Lingus as board recommends takeover bid
Aer Lingus has announced its new chief executive will be Stephen Kavanagh, who will takes over the reins on March 1.
Kavanagh, previously Aer Lingus’s chief strategy and planning officer, replaces outgoing Christoph Mueller who becomes chief executive at Malaysia Airlines.
The appointment comes at a critical time for the airline. Its board announced on Friday it would recommend the €1.4 billion takeover bid by International Airlines Group (IAG).
Aer Lingus has rejected several takeover bids by IAG but the latest offer of €2.90 per share was recommended in a letter to shareholders.
Aer Lingus chairman Colm Barrington said he was "particularly pleased that it has been possible and appropriate for an internal Aer Lingus executive to succeed to the position of CEO".
He added: "Stephen has been a key member of the executive team that, over the last five years, has transformed Aer Lingus into a strong, profitable airline with a resilient business model and an improved cost base."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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