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LAXintl
Topic Author
Posts: 25563
Joined: Wed May 24, 2000 12:12 pm

Mexicana Replaces CEO

Thu Jul 12, 2007 3:24 am

Wonder what drove this sudden change?

Quote:
Mexicana Taps CFO To Lead Airline
07/11/2007

Mexicana Airlines' board of directors has decided to replace CEO Emilio Romano, effective July 16, by promoting CFO Manuel Borja Chico to lead the airline.

The appointment is part of a strategic business plan designed to grow the airline. This change in upper management is intended to meet the challenges of a highly competitive market and create greater value for our clients and stockholders," said Gaston Azcarraga, chairman of the board.

Full story (subscription required)
http://www.aviationweek.com/publicat...=Mexicana+Taps+CFO+To+Lead+Airline
 
juventus
Posts: 2017
Joined: Tue Dec 07, 2004 11:12 pm

RE: Mexicana Replaces CEO

Thu Jul 12, 2007 6:24 am

Quoting Laxintl (Thread starter):
Wonder what drove this sudden change?

I was under the impression that Mr. Romano was doing a decent job as the airline's CEO. As long as the next one promotes growth and competitiveness, I guess its all right.

(How about AM's CEO)
 
EddieDude
Posts: 7048
Joined: Fri Nov 14, 2003 10:19 am

RE: Mexicana Replaces CEO

Thu Jul 12, 2007 8:37 am

It was not sudden. Romano was appointed as CEO by CINTRA (former owner of MX) prior to the sale of the company. Gastón Azcárraga -Chairman of Grupo Posadas- obviously wanted from the beginning to have a trusted guy as MX CEO but quite wisely decided to leave Romano for a while so as to ensure a smooth transition. Following the acquisition, Borja Chico was appointed as CFO and everybody knew he would eventually become CEO. So as you can see, this was negotiated a priori.

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