Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
Shares of International Consolidated Airlines Group (LON: IAG), the owner of British Airways, dropped 0.6% to erase earlier gains on news that British Airways Chairman and CEO Alex Cruz will step down.
The group decided to install Aer Lingus Chairman and CEO Sean Doyle as the new boss. Cruz will remain as the non-executive chairman of British Airways, the group said.
“We’re navigating the worst crisis faced in our industry and I’m confident these internal promotions will ensure IAG is well placed to emerge in a strong position,” IAG Chief Executive Luis Gallego said in a statement.
Changes at the top came after British Airways, and the aviation industry overall, suffered the worst crisis in history.
“Sean Doyle has extensive experience at British Airways having worked there for 20 years before moving to head Aer Lingus nearly two years ago where he has done an excellent job. I am confident that will continue at British Airways,” IAG’s Gallego said.
Donal Moriarty, the current chief corporate affairs officer at Aer Lingus will take over as a temporary replacement for Doyle.
IAG share price trades 0.6% lower at 102.50p at the moment of writing.
PEOPLE WHO READ THIS ALSO VIEWED:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .