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Royal Caribbean gets new CFO as veteran departs
TransportThe top finance job at Miami-based Royal Caribbean Cruises is in new hands. The world’s second-largest cruise ship company announced Thursday that Brian Rice, who is retiring in spring of 2014, would no longer serve as chief financial officer, a job he has held since 2006. With 24 years at the company, Rice will remain [...]
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Turkish Airlines says CEO stays and squashes rumors of executive shakeout
TransportTurkish Airlines said Chief Executive Temel Kotil will remain in his post and plans to lead negotiations with trade unions, following a board meeting to consider his future after Kotil was suspended from office. “There is no disagreement in the management of Turkish Airlines,” the company said in an e-mailed statement today. Kotil “has postponed [...]
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The new American Airlines to announce executive team in coming weeks
TransportAmerican Airlines and US Airways expect to announce the senior executives of their combined company within a few weeks. CEOs of the airlines said Monday that an announcement could be coming in late May or early June. The companies announced in February that they planned to merge and create the world’s biggest airline. They expect [...]
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Delta Air Lines CEO gets raise after the airline posts $1 billion in profit in 2012
TransportThe CEO of Delta Air Lines saw his compensation jump 42 percent last year as the airline boosted his long-term incentive pay and the airline made more money than its peers. Richard Anderson’s compensation rose to almost $12.6 million, up from $8.9 million in 2011, according to an Associated Press calculation based on an SEC [...]
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Hawaiian Air and tourism board veteran goes to work for Larry Ellison
TransportPaul Casey, who has headed both Hawaii’s largest airline and the state’s biggest tourism marketer, is preparing for a new challenge running a small local carrier for one of the richest men in the world. Island Air, purchased in February by Oracle Inc. CEO Larry Ellison, has appointed Casey to be CEO starting May 1. [...]
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Europe’s largest hotel operator Accor ousts CEO for not moving fast enough
RoomsThe board of Accor SA, Europe’s largest hotel operator, terminated the contract of Chairman and Chief Executive Officer Denis Hennequin at a meeting today. Hennequin had disagreed with the board on the speed of carrying out Accor’s strategy, which includes expansion and focusing on hotel operations. Philippe Citerne, previously the hotelier’s vice chairman, was named [...]
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Tourism exec prompts luxurious Singapore to remember its roots
DestinationsWhile waiting for a flight to Miami last month, Mr Lionel Yeo found time to study a Wall Street Journal (WSJ) article about Singapore that had been making a stir on social media. It was a racy read. Fast cars, private jumbo jets, S$32,000 cocktails and a lavish party scene — all of which depicted [...]
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Alitalia taps a motorcycle maker boss with a reputation for turnarounds as CEO
TransportItalian airline Alitalia has appointed Gabriele del Torchio, head of Italian motorcycle maker Ducati, as its new chief executive, the company said on Thursday. Del Torchio, known as a turnaround expert, has been assigned all operational responsibilities, it said in a statement. He will replace Andrea Ragnetti, who quit after only a year in the [...]
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EasyJet is doing better than ever, but expect bumpy executive transition
TransportWhoever takes over from Sir Mike Rake at easyJet, he or she will face a tough job. Clearly, the airline is vastly different from the one that Sir Mike inherited when he joined the board in the summer of 2009 – becoming chairman six months later, on January 1, 2010. The company’s fortunes are vastly [...]
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Judge signals support for American-US Air merger, but doubts Horton package
TransportAmerican Airlines Chief Executive Officer Tom Horton’s $20 million severance is holding up the airline’s bid to win court approval for its merger with US Airways Group Inc. U.S. Bankruptcy Judge Sean Lane in Manhattan today questioned American’s request now for approval of the severance package, which has drawn opposition from the U.S. government’s bankruptcy [...]
