IAG appoints new chief financial officer from Whitbread

British Airways owner IAG has appointed a new chief financial officer to replace Steve Gunning, who is stepping down after publication of the group’s 2021 financial results.

Nicholas Cadbury will join IAG from Whitbread, where is group finance director.

Luis Gallego, IAG chief executive, said: “I would like to thank Steve for the key role he has played in leading the group through the unprecedented challenges we have faced in the last 18 months and wish him well for the future.

“His efforts and achievements have enabled us to navigate the pandemic better than most in our sector and ensure we are well placed to take advantage of the enormous opportunities as travel continues to recover in the coming months.”

He added: “I’m delighted that Nicholas will be joining IAG. He is a well-respected, accomplished and experienced CFO with a fantastic track record at Whitbread, Premier Farnell and Dixons Carphone.

“In the short term, our focus remains on delivering the best end possible to 2021 and ensuring we are set up to return to profitability in 2022 and Steve continues to play a key role in enabling the group to achieve this.”

Gunning said: “It has been a wonderful experience to be involved in the creation and success of IAG. I have also had the privilege of working with so many dedicated and talented people during my twenty plus years with British Airways and IAG.

“Having helped guide the group successfully through the challenges of the last two years, it is now the right time for me to seek a new challenge. The group is well positioned to take advantage of the recovery in air travel and to emerge a strategic winner in the industry.”

Cadbury joined Whitbread in 2012 and is also a non-executive director and chair of the Audit Committee for Land Securities.

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