Virgin Atlantic’s Ridgeway quits

Victoria
By Victoria September 10, 2012 10:05

Virgin Atlantic’s Ridgeway quits

Steve Ridgway, chief executive of Virgin Atlantic, has announced his shock resignation from the airline after more than ten years in the role. Ridgway is expected to stay until the end of the airline’s financial year in February. The shock resignation has initiated debate over who will succeed him as CEO. Julie Southern, chief commercial officer is a favourite internal candidate, although no news has been released on whether the airline will look outside of the company for a new head.
Sir Richard Branson, president of Virgin Atlantic, is leading the search for his successor.
“Steve’s industry knowledge and business acumen has ensured Virgin Atlantic remains a consumer favourite,” said Branson. “He will be very much involved with the airline into next year and will doubtlessly be involved in other Virgin projects as we value his skills so highly.”
Virgin Atlantic reported a pre-tax loss of £80m for 2011 to 2012. The airline has suffered from increased competition, specifically BA’s JV with American on North Atlantic routes, and high fuel costs. Virgin also lost out on bidding for key slots of Heathrow when IAG bought BMI earlier this year.
Ridgway said: “My time with Virgin Atlantic has been nothing short of an adventure. I’ve seen many great times and a few bad, and have always remained firm that we must offer something different to that of our competitors.”

Victoria
By Victoria September 10, 2012 10:05
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