The man who succeeded Christopher Luxon as CEO of Air New Zealand, Greg Foran, has resigned but will remain in the role until October to allow the board to find a replacement.
The New Zealand-born executive, 63, came to the airline in 2020 from Walmart, which he'd joined in 2011.
He held several senior roles with the retailer, including president and CEO of Walmart China, and then the same role at Walmart Asia.
Prior to that he had several positions with Woolworths in Australia and New Zealand.
In a statement to the NZX, Air New Zealand chair, Dame Therese Walsh, said Foran had indicated that he believed the airline is set up to continue its growth and innovation, and the time is right for him to take on a new challenge.
“Greg has always displayed exceptional leadership and grit, not only guiding Air New Zealand through global aviation’s most significant crisis, but at the same time also maintaining [its] tradition of innovation, strong culture, and care for our country,” Walsh said.
“Perhaps his most notable contribution has been managing significant global supply chain challenges. These began with COVID-19, and continue today with the engine issues materially impacting both our Boeing and Airbus fleets.”
Last month Air NZ reported earnings before tax of NZ$155 million for the six months to Dec. 31, down from $185 million in the same period of 2023.
“While these challenges impact our operations almost daily, Greg’s relentless focus, and global profile, have been instrumental in mitigating the consequential disruptions on our customers,” Walsh said.
Foran said leading Air New Zealand had been one of the greatest privileges of his career.
“It’s been an incredible experience alongside an exceptional team. I’m incredibly proud of what we’ve achieved together and the way we’ve positioned Air New Zealand for the future.
“Despite so many issues outside of our control, we have continued to deliver improvements to our service every day, and I'll leave later this year knowing Air New Zealand’s foundations are immensely strong and its future very bright. It has been an honour to serve our customers, our 11,500 strong team, and New Zealand. I will look back on my time here with immense pride and gratitude.”
Currently, the airline is dealing with engine issues affecting its Airbus A321 Neos and Dreamliners.
Last year, Pratt & Whitney announced a recall of 1,200 engines because they required inspection for microscopic cracks, causing disruptions for 57 airlines.
And last month, Foran said as many as 11 of the Air NZ’s aircraft could be out of action due to engine maintenance issues.
New Zealand’s relatively small domestic market, coupled with intense competition from Australia’s Qantas and Virgin Australia, mean the airline operates in a challenging market.
