Jean-Cyril Spinetta has confirmed he will be stepping down as chairman and chief executive of the Air France-KLM airline group.
He will be joined by vice chairman 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 assume our current executive positions in October 2011, we had a twofold objective,” the pair declared in a joint statement.
“This was to put Air France-KLM back on the road to recovery by cutting costs and reducing debt, as well as to set up a new, more integrated organization of all the group’s strategic functions.
“The Transform 2015 recovery plan, simultaneously launched last year at Air France and KLM, is now bearing fruit thanks to the agreements which have been 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 will be up and running as of July this year.”
“Under these circumstances, we believe the timing is right for the new management team to take over in order to ensure the continuity of the group’s economic and financial recovery and the implementation of its new governance.
“We would like to take this opportunity to both congratulate and thank our people for their clear-sighted and responsible approach to the group’s recovery plan which could not have been launched otherwise and which will 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 on 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.