Photographer: Carsten Snejbjerg / Bloomberg
Photographer: Carsten Snejbjerg / Bloomberg
SAS AB, Scandinavia ‘s main carrier, is parting ways with Chief Executive Rickard Gustafson, leaving him looking for another at a time of historic difficulty for the airline’ s industry.
The company is based in Stockholm announced late Monday that Gustafson was retiring after ten years at the helm. The man will be 56-years-old to be the CEO of a Swedish business giant SKF AB.
For SAS, the loss of its CEO means that the board must find someone who is willing to do gargantuan work to run the business in the midst of a pandemic that has already suffered a stroke. air. Gustafson plans to leave the company by July 1 at the latest.
“The work to revitalize SAS is enormous,” analysts at Sydbank wrote in a note. The company is “shouting for continuity and someone with in-depth knowledge of the airline industry and the complexity of SAS. So leaving Rickard Gustafson leaves SAS empty at a time of crisis. ”
Shares in the company have fallen about 6% this year after falling 56% in 2020.
SAS Chairman Carsten Dilling said he was “disappointed and saddened” that Gustafson was leaving.
“SAS remains in a state of crisis – but stable – and indeed the board has begun the process of appointing a new SAS president and CEO,” he said in the statement.