Change at the top for Flybe as CEO steps down in favour of easyJet rival
LOW cost airline Flybe has announced its Chief Executive Officer is to step down in favour of the man credited with being “the architect and driving force” behind the commercial transformation of rival airline easyJet.
The Flybe board said current CEO Jim French would remain as the company’s chairman but would be handing the hot seat over to Saad Hammad with effect from August 1.
The airline, the largest in terms of passenger volumes at both Manchester and Birmingham airports, said Hammad would bring “considerable airline, commercial and business transformation experience to Flybe”.
As Chief Commercial Officer of easyJet from October 2005 to April 2009, Hammad was credited as being the architect and driving force behind the airline’s commercial transformation, delivering significant revenue growth and margin enhancement and creating the European network which formed the basis of building easyJet into one of Europe’s most successful airlines.
Hammad was also, between May 2011 and October 2012, a non-executive director of Air Berlin, the second largest airline in Germany with c€4bn in revenue, where he was a member of the Finance Committee.
Hammad is currently a managing director at the Gores Group, an operations-focused private equity firm with c$4bn under management, where he has been responsible for leading operational due diligence efforts across Europe as well as working with portfolio company executive teams to achieve full operational potential.
He has previously held a number of leadership positions in brand management, sales and marketing and retailing at Procter & Gamble, Thorn-EMI, Vision Express and the Minit Group and was managing director – Europe at Tibbett & Britten, the leader in consumer product logistics where he led a major business turnaround. Between August 2007 and March 2009, Hammad was a director of Optos.
Jim French said: “We are delighted to welcome Saad to Flybe. He brings with him a wealth of industry experience as well as a track record of leadership and board positions across a range of public and private businesses and we are very much looking forward to working with him.
“Flybe has recently updated the City on the significant progress made in its major turnaround plan which is on track to deliver over £50m in long-term cost savings and has generated over £40m in cash to fund the transition.
“The next key elements of the plan are to capitalise on its revised competitive low cost-base and Flybe’s strong brand profile.”
