British Airways owner IAG said that its finance chief, Steve Gunning, would step down after the airline’s 2021 results. Also, they named Premier Inn hotel operator Whitbread’s Nicholas Cadbury as his successor. Gunning, a company veteran, became IAG’s chief financial officer (CFO) in 2019. He leaves IAG at a time when airline operators have just begun to recover from the pandemic.
Gunning stated that having helped guide the Group successfully through the challenges of the last two years. Also, it is now the right time for me to seek a new challenge. Cadbury has been the CFO at Whitbread for nine years. He also steered the company through the pandemic situation. In June, Whitbread said that the bookings in its tourist locations picked up in the run-up to the summer season. This is with a majority of its 800-plus Premier Inn hotels operational.
IAG Chief Executive Officer Luis Gallego said that in the short term, their focus remains on by ensuring that, they are set up to return to profitability in 2022. Then, Steve continues to play a key role in enabling the Group to achieve this. Also, Whitbread said a search was on for Cadbury’s successor.