Jens Penny is to step down as chief financial officer of dnata Travel Europe from March.

The move coincides with the relocation of the group’s financial leadership roles in the business to Dubai.

Penny, who has been with the company for 13 years as finance director of The Global Travel Group, chief financial officer of Stella Travel Services and more recently of dnata Travel Europe, considered the opportunity but has decided to remain in the UK due to family commitments. He will stay until March to support the transition.

Dnata is restructuring its global finance team to create a new vice president – business finance role based in Dubai. This role will lead the global dnata travel finance function, including the European business previously run by Penny. The move will align all the finance structures across dnata.

Iain Andrew, dnata travel divisional senior vice-president, said: “Jens’ expertise and leadership has led the business through many periods of change and allowed our organisation to continue to thrive.

“I would like to personally thank Jens for the significant positive impact he has had on our business and wish him every success for the future.

“Despite a challenging market, our brands within dnata Travel Europe all continue to experience exceptional growth performance. Jens’ impeccable finance management and planning stands us in good stead for a great 2017.”