12-Aug-2013 7:26 AM

Vueling to replace board of directors and name CEO Alex Cruz as new chairman

Vueling announced (10-Aug-2013) plans to replace its board of directors and name current CEO Alex Cruz as chairman of the board, following the takeover by International Airlines Group (IAG) and subsequent de-listing. An agreement was reached at an IAG board meeting, with Vueling's current board and chairman Josep Piqué to submit their resignations "shortly". The carrier plans to begin "a new phase of its development under the control of IAG with a new board of directors made up of IAG executives yet to be announced." The new board will be "more operational and focused on the day-to-day activities of the airline", chaired by Mr Cruz. Mr Cruz plans to "cooperate closely" with Mr Pique, and said, "All the growth challenges managed by Vueling...have been achieved thanks to the great contribution and vision of each member of the board, who have wisely guided the company in the right direction over the past four years." [more - original PR]

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