Etihad Aviation Group CEO James Hogan to step down

Abu Dhabi-based Etihad Aviation Group’s president and CEO, James Hogan, will step down from his position in the second half of 2017, United Arab Emirates state news agency WAM reported. 

Hogan and the company’s board of directors had initiated a transition process last year, with the formation of the Etihad Aviation Group in May.

Hogan will join an investment company with the group’s chief financial officer James Rigney, who will also leave the company later this year. 

“A global search for a new group CEO and a new group CFO is already underway,” the statement said.

Commenting on current priorities for the business, Mohamed Mubarak Fadhel Al Mazrouei, chairman of the board of Etihad Aviation Group, said the company will continue an ongoing strategic review amid challenging market conditions.

“We must ensure that the airline is the right size and the right shape. We must continue to improve cost efficiency, productivity and revenue,” he said.

Etihad Airways, like other carriers, has been hit hard by an increasingly competitive environment against a backdrop of challenging global economic conditions.

Last month, the airline said it was planning to cut jobs in some parts of its business as part of a restructuring process to reduce costs.