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Khazanah picks new CEO, leadership team for MAS Baru
KUALA LUMPUR, Dec 5 — Sovereign fund Khazanah Nasional today announced the appointment of Christoph R. Mueller as the chief executive officer-designate to lead the restructured Malaysia Airlines Systems Berhad (MAS), among a slew of new leadership appointments to take effect next year.
Khazanah said Mueller will officially be appointed as CEO-designate of MAS New Co effective January 1, 2015, as they negotiate to bring him on board sometime in the second quarter of next year. Mueller is currently the CEO of Irish national carrier Aer Lingus Plc (Aer Lingus). His contract ends on May 1, 2015, and Khazanah are in discussions to bring him on chief executive of MAS New Co at a sooner date, “but no earlier than 1 March 2015”
Other new appointments include Datuk Seri Mohammed Shazalli Ramli as a non-executive director on the MAS Board, Tan Sri Bashir Ahmad Abdul Majid as chairman of the Corporate Reskilling Centre (CRC), Shahryn Azmi as chief executive of the CRC and Datuk Boonler Somchit as a non-executive director and advisor to the CRC. Khazanah said the appointments were part of the key initiatives under its 12-point MAS Recovery Plan, and that they were agreed to by the Khazanah Board of Directors at a meeting chaired by Prime Minister Datuk Seri Najib Razak yesterday.
“The appointments announced today are part of efforts by the Government and Khazanah to lay strong foundations for the future success of our national carrier,” Najib was quoted as saying in a statement issued by Khazanah. “It is imperative that we have the best available talent with the expertise and experience to help drive the progress of the restructuring effort further forward, lead the airline to profitability, and groom a Malaysian successor to assume the leadership of the airline in the future. “The Government is committed to seeing through the complete overhaul of MAS to its successful conclusion,” Najib added. Mueller is no stranger to the aviation industry, having more than 10 years of experience as a chief executive for several companies, according to his biodata provided by Khazanah.
The German, who assumed the role of Aer Lingus’ CEO in 2009, is credited with turning around the Irish airline’s waning fortunes amid a declining Irish market and tepid European market conditions, and developing Dublin as among the leading hubs for North Atlantic long-haul traffic. Mueller was also a key contributor in Lufthansa’s corporate turnaround in the 1990s, when he served as senior vice-president for network management and corporate planning, and orchestrated the move by a group of investors in the ill-fated Sabena Group one of its subsidiaries, Delta Air Transport — which has since been renamed Brussels Airlines and operates as Belgium’s national carrier.
Khazanah, which has nearly 70 per cent stake in MAS, plans to turn around the ailing flag carrier by trimming the labour force of some 20,000 workers to just 14,000, according to the plan announced on August 29 this year. The national carrier was delisted in August after the fund offered to buy out its minority share for a total of RM1.38 billion to restructure MAS, which suffered two major aviation disasters this year, MH370 and MH17. The total takeover is to cost Khazanah some RM6 billion. Khazanah’s 12-point turnaround plan for the national carrier, titled “Rebuilding A National Icon — The MAS Recovery Plan”, also includes transferring all MAS assets to a new entity tentatively known as “MAS Baru” or “new MAS”. -
See more at: http://m.themalaymailonline.com/mal...ership-team-for-mas-baru#sthash.XdUCHWD9.dpuf
KUALA LUMPUR, Dec 5 — Sovereign fund Khazanah Nasional today announced the appointment of Christoph R. Mueller as the chief executive officer-designate to lead the restructured Malaysia Airlines Systems Berhad (MAS), among a slew of new leadership appointments to take effect next year.
Khazanah said Mueller will officially be appointed as CEO-designate of MAS New Co effective January 1, 2015, as they negotiate to bring him on board sometime in the second quarter of next year. Mueller is currently the CEO of Irish national carrier Aer Lingus Plc (Aer Lingus). His contract ends on May 1, 2015, and Khazanah are in discussions to bring him on chief executive of MAS New Co at a sooner date, “but no earlier than 1 March 2015”
Other new appointments include Datuk Seri Mohammed Shazalli Ramli as a non-executive director on the MAS Board, Tan Sri Bashir Ahmad Abdul Majid as chairman of the Corporate Reskilling Centre (CRC), Shahryn Azmi as chief executive of the CRC and Datuk Boonler Somchit as a non-executive director and advisor to the CRC. Khazanah said the appointments were part of the key initiatives under its 12-point MAS Recovery Plan, and that they were agreed to by the Khazanah Board of Directors at a meeting chaired by Prime Minister Datuk Seri Najib Razak yesterday.
“The appointments announced today are part of efforts by the Government and Khazanah to lay strong foundations for the future success of our national carrier,” Najib was quoted as saying in a statement issued by Khazanah. “It is imperative that we have the best available talent with the expertise and experience to help drive the progress of the restructuring effort further forward, lead the airline to profitability, and groom a Malaysian successor to assume the leadership of the airline in the future. “The Government is committed to seeing through the complete overhaul of MAS to its successful conclusion,” Najib added. Mueller is no stranger to the aviation industry, having more than 10 years of experience as a chief executive for several companies, according to his biodata provided by Khazanah.
The German, who assumed the role of Aer Lingus’ CEO in 2009, is credited with turning around the Irish airline’s waning fortunes amid a declining Irish market and tepid European market conditions, and developing Dublin as among the leading hubs for North Atlantic long-haul traffic. Mueller was also a key contributor in Lufthansa’s corporate turnaround in the 1990s, when he served as senior vice-president for network management and corporate planning, and orchestrated the move by a group of investors in the ill-fated Sabena Group one of its subsidiaries, Delta Air Transport — which has since been renamed Brussels Airlines and operates as Belgium’s national carrier.
Khazanah, which has nearly 70 per cent stake in MAS, plans to turn around the ailing flag carrier by trimming the labour force of some 20,000 workers to just 14,000, according to the plan announced on August 29 this year. The national carrier was delisted in August after the fund offered to buy out its minority share for a total of RM1.38 billion to restructure MAS, which suffered two major aviation disasters this year, MH370 and MH17. The total takeover is to cost Khazanah some RM6 billion. Khazanah’s 12-point turnaround plan for the national carrier, titled “Rebuilding A National Icon — The MAS Recovery Plan”, also includes transferring all MAS assets to a new entity tentatively known as “MAS Baru” or “new MAS”. -
See more at: http://m.themalaymailonline.com/mal...ership-team-for-mas-baru#sthash.XdUCHWD9.dpuf
