[290117.EN.BIZ] Etihad's CEO Hogan and CFO Rigney To Step Down Amid Controversy

ABU DHABI's Etihad Aviation president and CEO James Hogan will step down in the second half of 2017 together with his chief financial officer James Rigney.

Departures follow criticism of links to Germany's Lufthansa, which surfaced at a recent Dublin conference, when Mr Hogan hit out at critics of Etihad's partnership strategy, describing it as a "core element of the growth of the business".

Together with Mr Rigne, Mr Hogan will join an investment company once a global search for replacements is completed.

In the same week, the Middle East carrier also had to deny industry rumours, originating in the Italian financial press, that Etihad was looking to take a stake of up to 40 per cent in Lufthansa, reported London's Air Cargo News.

In December, reports suggested that Etihad was reviewing its investment strategy in European airlines as part of a wider restructuring involving a range of job cuts.

Said Etihad chairman Mohamed Mubarak Fadhel Al Mazrouei: "We are very grateful to James. In just 10 years, he has overseen the growth of the company from a 22 plane regional carrier into a 120 aircraft global airline. We look forward to James' continued association with Abu Dhabi in new ways."

Said Mr Hogan: "Along with the board and my 26,000 colleagues, I am proud of what we have built together at Etihad and of the company's substantial contribution to the UAE and to the development of Abu Dhabi. The last decade has seen incredible results but this only represents a first chapter in the story of Etihad."

Etihad is a major freighter operator, with four Airbus A330Fs, three Boeing 777Fs and three Boeing 747Fs. The United Arab Emirates' national carrier will also be the host at IATA's World Cargo Symposium 2017, which takes place in Abu Dhabi, March 14-16.

Source : HKSG.