Latest News

KLM’s CEO Elbers will not serve third term

© Reuters. FILE PHOTO: KLM CEO Pieter Elbers takes part in a panel discussion at the International Air Transport Association’s (IATA) Annual General Meeting in Boston, Massachusetts, U.S., October 4, 2021. REUTERS/Brian Snyder

AMSTERDAM (Reuters) -Pieter Elbers, the chief executive of KLM, the Dutch arm of Air France-KLM, will not serve a third term, the company said on Thursday.

Elbers, 51, is a 30-year veteran of the company who oversaw restructurings at KLM before and during the coronavirus pandemic. The company said he will step down as of May 1, 2023.

KLM has been part of the Air France-KLM group since 2004, but relations between the Dutch subsidiary and its French-dominated parent have been strained in recent years by KLM’s relatively stronger financial performance.

“The Air France-KLM Board of Directors has approved that the Supervisory Board of KLM, after close consultation with CEO Pieter Elbers, has established that (he) will not enter into a third term,” the company said in a statement on the group website.

Air France CEO Ben Smith and Chairwoman Anne-Marie Couderc thanked Elbers for his service.

In a separate statement on KLM’s website, Elbers said he was proud of his time at the company and would continue to “support KLM in this transition toward new leadership.”

In 2019, the Dutch state purchased a 14% stake in Air France-KLM in a surprise move it said it hoped would help it gain more influence and protect the Netherlands’ interests in the company.

Elbers is known as a strong advocate for KLM interests within the group, but has always rejected the idea – sometimes mooted by Dutch politicians – that KLM should split from the group.

KLM’s CEO Elbers will not serve third term

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

MARKET WRAP: FTSE edges higher, GBP strengthens, oil slips lower

Previous article

Hotels: Occupancy Rate Down 15% Compared to Same Week in 2019

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News