Etihad Airways Group CFO steps down as airline plans to turn fortunes around

Darren Wood
By Darren Wood April 16, 2019 12:49

Etihad Airways Group CFO steps down as airline plans to turn fortunes around

Etihad Airways Group chief financial officer (CFO) Mark Powers has stepped down after a little over a year in the role.

In a statement issued by Etihad, Powers, who joined in January 2018, resigned for personal reasons and has decided to return to the United States.

Etihad executive Adam Boukadida has been appointed interim group CFO.

Powers joined Etihad Aviation Group from Tulane University’s A.B. Freeman School of Business, where he was Professor of Finance. He brings with him significant industry experience, having held senior leadership roles at major airlines including JetBlue, where he most recently held the position of chief financial officer.

Before this, Powers worked for Northwest Airlines, where he held the position of vice president treasury, corporate finance; for Continental Airlines, where he was treasurer and associate general counsel; and for GE Aviation, where he was director customer finance and commercial engine programs.

It is being reported that the carrier will implement a new business strategy to turnaround its fortunes. Etihad reported a $1.28 billion loss for 2018, down from a $1.52 billion loss in 2017.

Darren Wood
By Darren Wood April 16, 2019 12:49