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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Air FranceKLM | EU:AF | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.41 | 3.75% | 11.35 | 11.35 | 11.36 | 11.355 | 10.94 | 10.94 | 1,054,092 | 13:28:53 |
From May 2019 to May 2024
PARIS—Air France Chairman and Chief Executive Officer Frederic Gagey plans to resign ahead of a new round of labor talks to become chief financial officer of the airline's parent company, an official at the French carrier said Monday.
The move is a part of management's plan to split the jobs of CEO and chairman at Air France, the official said.
Jean-Marc Janaillac will become chairman of Air France in addition to his current role as chief executive and chairman of parent company Air France-KLM. The French carrier is expected to appoint a new CEO to replace Mr. Gagey at a later date, the official said.
The company is scheduled to introduce a new strategic plan on Nov. 3 that will include new labor measures.
Mr. Gagey has held senior positions in the group since 1999, including stints as CFO at Air France and at KLM, the group's Dutch arm.
Tense labor talks led to strikes over the summer that cost the company €90 million. A year ago, labor negotiations erupted into a violent brawl in which a mob of unionized workers accosted two company executives and ripped off their shirts in front of TV crews.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
October 24, 2016 09:45 ET (13:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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