Jean-Cyril Spinetta has confirmed he’ll be stepping down as chairman and chief executive of the Air France-KLM airline group.
He would be joined by vice president and deputy chief executive and Leo van Wijk, with both leaving their posts on July 1st.
The decision was confirmed at an Air France-KLM board meeting held in Paris earlier.
“When we were asked by the board to imagine our current executive positions in October 2011, we had a twofold objective,” the pair declared in a joint statement.
“This was to place Air France-KLM back at the road to recovery by cutting costs and reducing debt, in addition to to establish a brand new, more integrated organization of each of the group’s strategic functions.
“The Transform 2015 recovery plan, simultaneously launched last year at Air France and KLM, is now bearing fruit due to the agreements which were signed by both airlines with the representative trade unions and works councils.
“The group net debt decreased in 2012.
“The new governance of the Air France-KLM Group would be up and running as of July this year.”
“Under these circumstances, we believe the timing is good for the recent management team to take over with a view to make sure the continuity of the group’s economic and fiscal recovery and the implementation of its new governance.
“We wish to take this chance to both congratulate and thank our people for his or her clear-sighted and responsible method to the group’s recovery plan which might not had been launched otherwise and in order to be vital to pursue.”
Following the proposal of the appointments committee, Air France-KLM revealed Alexandre de Juniac will succeed Jean-Cyril Spinetta as chairman and chief executive.
Peter Hartman will succeed Leo Van Wijk.
In other news, the Air France board, which met at the same day, appointed Frédéric Gagey to take over from Alexandre de Juniac as chairman and chief executive of Air France as of July 1st 2013.