International Airlines Group (IAG) announces that Steve Gunning has decided to leave the position of CFO and will leave the Group after the publication of the annual results for the financial year 2021. Nicholas Cadbury will join IAG as Chief Financial Officer. Nicholas joins from Whitbread PLC, where he has been Chief Financial Officer since 2012. He is also a non-executive director and Chairman of the Audit Committee of Land Securities.
Luis Gallego, CEO of IAG, commented: “I would like to thank Steve for the key role he has played in leading the Group through the unprecedented challenges we have faced in the last 18 months and I wish him the best for the future. Their efforts and achievements have allowed us weathering the pandemic better than most in our industry and ensuring that we are well placed to take advantage of the tremendous opportunities that will present themselves as travel demand continues to recover in the coming months.
I am delighted that Nicholas is joining IAG. He is a highly respected CFO and highly experienced, with a fantastic track record at Whitbread, Premier Farnell and Dixons Carphone.
In the short term, our goal remains to provide the best possible outcome in 2021 and to ensure that we are prepared for return to profitability in 2022. Steve will continue to play a key role in helping the Group achieve this achievement. ”
Steve Gunning, for his part, He noted that “being involved in the creation and success of IAG has been a wonderful experience. It has been a privilege working with such a talented and dedicated group of people for over my 20 years at both British Airways and IAG. Having successfully supported the Group through the challenges of the last two years, I have decided that now is the right time to seek a new challenge. The Group is well positioned to take advantage of the recovery in air transport and to emerge as a strategic winner in the industry.