The conglomerate's stocks have lost $33 billion in combined market value since the news of Gautam Adani's indictment
markets1 hour ago
Abu Dhabi-based Etihad Airways on Sunday announced a new organisational structure that will position the business to deliver on its mandate in the wake of the Covid-19 pandemic and meet the challenges of the global downturn in aviation head on.
The restructuring sees the airline continuing its transformation into a mid-sized, full-service carrier concentrating on its fleet of widebody aircraft, with a leaner, flatter and scaleable organisational structure that supports organic growth as the world returns to flying.
“After our best-ever Q1 performance, none of us could have predicted the challenges that lay ahead in the remainder of this year… As a responsible business, we can no longer continue to incrementally adapt to a marketplace that we believe has changed for the foreseeable future. That is why we are taking definitive and decisive action to adjust our business and position ourselves proudly as a mid-sized carrier,” said Tony Douglas, group CEO of Etihad Aviation Group.
“The first stage of this is an operational model change that will see us restructure our senior leadership team and our organisation to allow us to continue delivering on our mandate, ensuring long-term sustainability, and contributing to the growth and prominence of Abu Dhabi,” he said.
The new operational model will result in a number of changes to the executive leadership team to streamline the organisational structure.
Robin Kamark, chief commercial officer, has decided to leave the business, and following his departure, the business units within Commercial will be separated and transferred under the leadership of Mohammad Al Bulooki, chief operating officer; Adam Boukadida, chief financial officer, and Terry Daly, who will assume the role of executive director guest experience, brand and marketing.
Mohammad will assume responsibility for network planning, sales, revenue management, cargo and logistics, commercial strategy planning, and alliances, in addition to his existing portfolio.
Duncan Bureau, senior vice president sales and distribution, will also be leaving Etihad. Reporting directly to Mohammad, Martin Drew will take on Duncan’s portfolio alongside his current responsibilities as managing director for cargo and logistics.
As part of his new role, Terry will lead the marketing, brand and partnerships department, and Etihad Guest, the airline’s loyalty programme, while continuing to oversee the Customer Experience & Service Delivery department.
Following the departure of Akram Alami, chief transformation officer, the procurement and supply chain department and transformation office will move under the leadership of Adam Boukadida.
Adam will also assume responsibility for the analytics department, which previously sat within the commercial division.
Ibrahim Nassir, chief human resources and organisational development officer, will have an additional responsibility for the asset management department.
Finally, Mutaz Saleh will be leaving his position as chief risk and compliance officer, after which Henning zur Hausen, general counsel, will take on additional responsibility for ethics and compliance, while risk and performance reporting will move under Adam Boukadida, forming part of a new corporate strategy team. Business continuity will transfer to Ahmed Al Qubaisi, senior vice president government, international and communications.
Frank Meyer, chief digital officer; Abdul Khaliq Saeed, chief engineering officer, and Andrew Macfarlane, chief investments officer, will continue in their respective positions and reporting to the group CEO.
waheedabbas@khaleejtimes.com
The conglomerate's stocks have lost $33 billion in combined market value since the news of Gautam Adani's indictment
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