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Jet Airways chief executive officer Nikos Kardassis has stepped down, the airline informed the Bombay Stock Exchange on Friday. Kardassis's resignation is seen as a part of wider revamp of the airline's senior management subsequent to Etihad Airways investment.
The airline is yet to make a new appointment in Kardassis's place and Capt Hameed Ali will continue to function as the acting CEO. Ali, a Bahraini national, is chief operating officer in the airline and he signed the deal with Etihad in April. Kardassis has been on a medical leave from April onwards. Sources have indicated that there could be more changes in the airline's management but none have been finalised yet.
Gary Toomey, former chief executive of Ansett Australia airline, is tipped as a possible successor to Kardassis. Toomey is currently associated with Etihad as a 'consultant'. Etihad's present CEO James Hogan too was involved in the restructuring of Ansett before it shut down in 2002.
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Toomey's last appointment was a chief executive in Airlines Papua New Guinea till November 2012 .
Kardassis held the post of CEO in Jet Airways twice. His first stint was from 1994 to 1999. Kardassis began his career with TWA, holding various finance and operational positions. Before taking over the post for the second time in 2009 Kardassis served as senior vice president in charge of US for the airline and was closely involved in the restructuring, cost / network management of the airline and was working as Senior Advisor to the Chairman on both Finance and Strategy.
Etihad has agreed to pick up 24% in Jet Airways for about Rs 2060 crore and will also get three management positions on the airline's board. The deal is currently awaiting regulatory nod and will come up for clearance before the Foreign Investment Promotion Board next week.
