Tuesday 19th June 2012
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Air New Zealand, the airline slated for a government selldown, named Christopher Luxon as chief executive effective at the end of the year.
Luxon, who is currently the airline’s general manager for international, replaces Rob Fyfe. Luxon was hired to his current position in May 2011, having previously been an executive at Unilever.
Chairman John Palmer said Luxon has proved his worth in the airline’s international business. “We have seen him affect positive commercial outcomes in our toughest operating division.”
Shares of Air New Zealand, which is three-quarters owned by the government, last traded at 86.5 cents and have declined 21 percent in the past 12 months. It is rated ‘outperform’ based on the consensus of seven analyst recommendations compiled by Reuters.
The government has flagged its holding in the airline as among assets it plans to sell down to just over 50 percent.
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