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Virgin Blue’s financial chief resigns


Virgin Blue Group Chief Financial Officer, Keith Neate, has announced his resignation from the carrier, effective 31-Mar-2011, after seven years with the Australian carrier. He cited personal reasons in his decision to move on.

CEO John Borghetti stated: “Keith has played an integral role in the management of the company, successfully steering it through some extremely difficult times including most recently the global financial crisis. I wish him well in his future endeavours and would like to thank him for agreeing to stay on to ensure a seamless handover.” Succession plans were not disclosed.

Mr Neate stated: “I am ready to give some time back to my family before pursuing other opportunities”, adding: “I believe the group is tremendously well positioned to deliver on its strategy and prosper under John’s strategic direction.”

Virgin Blue’s shares were flat yesterday and marginally higher in early trade in Sydney today.

Elsewhere, AirAsia drifted 1.5% lower, while India’s SpiceJet gained 3.4% and Japan’s Skymark surged 4.2% higher.

Selected LCCs daily share price movements (% change): 20-Dec-2010

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