Malaysia Airlines Appoints New Chief Executive
June 30 2016 - 9:40AM
Dow Jones News
KUALA LUMPUR, Malaysia—Malaysia Airlines Bhd. has appointed
Chief Operating Officer Peter Bellew as its group managing director
and chief executive, as it looks to recover from the catastrophic
loss of two jetliners in 2014.
The carrier said in statement Thursday that Mr. Bellew, a former
director of Ryanair Holdings who joined Malaysia Airlines in
September, will assume the role from July 1.
Khazanah Nasional, Malaysia's sovereign-wealth fund and sole
owner of Malaysia Airlines, said in a separate statement it
approved the appointment.
The announcement came two months after the carrier's group
managing director and CEO, Christoph Mueller, announced plans to
step down in September, citing personal reasons. Mr. Mueller,
former chief executive of Irish carrier Aer Lingus Group PLC, took
up the CEO post on May 1, 2015 for a three-year term. He joined the
Malaysia Airlines board in January 2015.
Mr. Mueller will go on leave and step down July 1, Malaysia
Airlines said.
"Peter's appointment will pave the way for a smooth transition
to ensure the continued success of our national airline," said Md
Nor Md Yusof, chairman of Malaysia Airlines. "The board of
directors and I look forward to working with Peter and the
senior-management team to continue driving the progress and
performance of the airline further forward."
Under Mr. Mueller, Malaysia Airlines was reconstituted with a
new corporate entity, cutting nearly one-third of its more than
18,000 employees and renegotiating previous contracts for supplies
that were seen as expensive. He was also instrumental in ordering
new planes on lease and signing a code-share deal with Emirates
Airline that is expected to help Malaysia Airlines get more
passengers using the Dubai-based carrier's extensive connections
with European and U.S. cities.
Write to Yantoultra Ngui at yantoultra.ngui@wsj.com
(END) Dow Jones Newswires
June 30, 2016 09:25 ET (13:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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