Etihad chief executive James Hogan is stepping down after 10 years leading the Gulf airline.
It will now start the search for a new chief executive as well as chief financial officer after James Rigney also left the company
Under Hogan’s leadership, Etihad has pursued an investment strategy that has seen it purchase equity stakes in airlines including struggling Alitalia and Air Berlin.
Etihad chairman Mohamed Mubarak Al Mazrouei said it will continue to “progress and adjust” its airline equity partnerships.
“To position the company for continued success in a challenging market, the Board and management team will continue an ongoing, company-wide strategic review.
“We must ensure that the airline is the right size and the right shape. We must continue to improve cost efficiency, productivity and revenue,” he said.
Hogan said: “Along with the Board and my 26,000 colleagues, I am very 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.”
Last month, Etihad unveiled plans to create a new European leisure airline group in a joint venture with TUI AG, codeshare agreement with Lufthansa and an aircraft leasing agreement between Air Berlin and Lufthansa.
It also confirmed that as a minority shareholder, it is “actively participating” in the next phase of Alitalia’s restructuring plan.
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