Prock-Schauer steps down as Jet CEO, Kardassis to take over

In a major shake-up in Jet Airways, its Chief Executive Officer Wolfgang Prock-Schauer has put in his papers and Nikos Kardassis, who heads the airline's US operations, will take over from him as acting CEO from October 15.

Kardassis had been the CEO of Jet Airways from 1994 to 1999 and heads its US operations as a senior vice president, officials of the premier private carrier said at a press conference here today.

They said Kardassis brings with him a wealth of experiences in the aviation industry and financial services.

Kardassis was closely involved in the restructuring and cost and network management of Jet Airways and has been working as senior advisor to Chairman Naresh Goyal on crucial areas of finance and strategy.

He served as the head of operations of the airline in the Americas for the past 18 months.

Prock-Schauer, whose resignation is effective from October 15, will join as the CEO of the low-cost carrier British Midland PLC (bmi) and be based in the UK.

Prock-Schauer remained at the helm of affairs in the Indian carrier since June 2003 and has guided the company during the critical period of its international expansion growth.

Kardassis, the officials said, began his career with Trans World Airlines holding various finance and operational positions. He has over two decades of extensive leadership and business management experience. He had worked with General Electric as president for GECAT.

He had served as managing director and head of business development and distribution for the Global Bank Group at Merrill Lynch.