IAG has appointed Nicholas Cadbury as the Group’s new Chief Financial Officer. Mr. Cadbury succeeds Steve Gunning who will step down after the release of the company’s full-year 2021 financial results.
On Friday (October 15, 2021), the International Consolidated Airlines Group (IAG) announced the appointment of Nicholas Cadbury as the Group’s new Chief Financial Officer. Mr. Cadbury joins IAG from Whitbread PLC, where he is Group Finance Director, having joined the company in 2021. He is also a Non-Executive Director and Chair of the Audit Committee for Land Securities. As IAG’s new CFO, Nicholas Cadbury succeeds Steve Gunning, who will step down after the release of the company’s full-year 2021 financial results.
In Friday’s announcement, IAG’s Chief Executive Officer, Luis Gallego, said,
“I would like to thank Steve for the key role he has played in leading the Group through the unprecedented challenges we have faced in the last 18 months and wish him well for the future. His efforts and achievements have enabled us to navigate the pandemic better than most in our sector and ensure we are well placed to take advantage of the enormous opportunities as travel continues to recover in the coming months.
“I’m delighted that Nicholas will be joining IAG. He is a well-respected, accomplished and experienced CFO with a fantastic track record at Whitbread, Premier Farnell and Dixons Carphone. In the short term, our focus remains on delivering the best end possible to 2021 and ensuring we are set up to return to profitability in 2022 and Steve continues to play a key role in enabling the Group to achieve this.”
Commenting on his pending departure from the Group, Steve Gunning said,
“It has been a wonderful experience to be involved in the creation and success of IAG. I have also had the privilege of working with so many dedicated and talented people during my twenty plus years with British Airways and IAG. Having helped guide the Group successfully through the challenges of the last two years, it is now the right time for me to seek a new challenge. The Group is well positioned to take advantage of the recovery in air travel and to emerge a strategic winner in the industry.”
The International Airlines Group (IAG) is one of the world’s leading airline groups and has a combined fleet of 533 aircraft. Prior to the global COVID-19 pandemic, the Group served 279 destinations, carrying nearly 120 million guests annually. The Group’s airlines include Aer Lingus, British Airways, Iberia, Level and Vueling. The company’s other subsidiaries include IAG Loyalty, IAG Cargo, and IAB Global Business Services (GBS).
Source: International Airlines Group