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LONDON, July 31 (Reuters) - British Airways-owner IAG
named Javier Ferran as its new chairman on Friday, due
to take over at the beginning of next year, just months after a
new chief executive takes the reins and as the pandemic batters
the travel market.
Ferran, who is also chairman of the world's largest spirits
maker Diageo, has been on the IAG board since 2019 and
will replace Antonio Vazquez.
Ferran said that the airline group, which posted a record
loss on Friday and said it planned to raise 2.75 billion euros
from shareholders to get through the crisis, had a strong
future.
"I am committed to leading the group through this crisis
and working with Luis (Gallego) to build a strong future, in
which the group will continue to take a leading role in the
industry," Ferran said in an IAG statement on Friday.
By the time he steps down at the end of this year, chairman
Vazquez will have been at the helm for almost ten years with his
tenure dating back to the formation of IAG in 2011 through the
merger of British Airways and Iberia.
Willie Walsh, chief executive of IAG since it was created,
is due to retire on Sept. 8 and will be succeeded by Iberia boss
Luis Gallego.
(Reporting by Sarah Young)
