MAS to get new CEO by end of year

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KUALA LUMPUR: Khazanah Nasional Bhd is eyeing potential candidates from the global aviation industry as well as local talent to become the new chief executive officer (CEO) of the restructured Malaysia Airlines, Khazanah Nasional managing director Tan Sri Azman Mokhtar said.

The new CEO, who will replace Ahmad Jauhari Yahya, will be announced by the end of the year.

Ahmad Jauhari, whose three-year contract is slated to expire next month, will continue to lead the existing MAS entity until July 1, 2015 to smoothen the transition from the old entity to the new restructured MAS entity.

“We are looking at both Malaysian leadership talent, who may or may not be Malaysian, and global aviation industry executives.

“There’s no lack of interest for people wanting to serve MAS,” he told a media briefing on the 12-point MAS Recovery Plan here yesterday.

He did not rule out the possibility of appointing someone with non-aviation industry background.

Under the 12-point plan, a new company (NewCo) will be formed by July 2015 to house the new MAS, migration of the right-sized workforce and work practices as well as contracts into the NewCo.

Azman said the plan is for Newco to return to profitability three years after its delisting which is at the end of 2017 and relisting possibly in 2018 or 2019. — Bernama