Jet Airways CEO Nikos Kardassis resigns

Moneycontrol Bureau

Nikos Kardassis, Jet Airways CEO has regisned with effect from June 5 and Hameed Ali, (currently chief operating office at the firm) will fill up the post in the interim.

Kardassis' resignation comes at a time when Abu Dhabi-based Etihad has picked up 24 percent stake in the company and will also have its members on board. However, reason for Kardassis exit is not yet known..

Analysts say that whenever an investor comes in any firms, it brings in his own key personnel to implement a business model which is different that the exiting one.

In 2009, Kardassis  took over the reins of Jet Air from Wolfgang Prock-Schauer.

Prior to his current position at the airline, Kardassis who is a Greek-American, headed the private carrier's US operations, had been the CEO of Jet Airways earlier too from 1994 to 1999. 

Gary Toomey, a former chief financial officer chief financial officer) of Qantas Airways Ltd, is tipped to be the next CEO at the carrier, according to a recent Mint report.

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