Adria Airways CEO resigns

NEWS FLASH


Arno Schuster has resigned from his post as the CEO of Adria Airways for personal reasons after almost two years at the company's helm. Holger Kowarsch, who is the Deputy Chairman of Adria's Supervisory Board, will take over as of today. Mr Schuster became CEO following the airline's purchase by 4K Invest and he oversaw the company's restructuring. He also managed to bring the airline back to profitability in 2016 following record losses in the previous years. "We would like to thank Arno Schuster for his excellent work and contribution to Adria Airways. His leadership and strategic vision were essential for the sustainable growth of the company. We understand that he would like to spend more time in Vienna, where he lives with his young family. Holger Kowarsch will be an excellent successor who will focus on further growth and expansion of the network", Markus Zollner from 4K Invest said. Mr Schuster will stay on the management board until the end of April.

Holger Kowarsch has over twenty years of leadership experience including posts at Adler Modemakte, Bakelite, Zeitler Sitzmobel, Lanzet Bad, Deutsche Depeschendienst, Missel, Colordruck Pforzheim, AHS Unternehmensberatung, Evotape, Wolfsheck Betriebs, BEA Elektrotechnik, Camping Outlet, ARQUES Austria Invest, bluO International Affiliates, Zugspitze and ZIP Warenhandels. "Under new management, Adria Airways will continue to expand its network of flights and remain a trusted and reliable partner of Star Alliance and beyond", 4K Invest said in a statement.

Comments

  1. Anonymous15 February 2018 at 11:07

    Wow, that doesn't sound too promising. My guess is, he was planning on using the Saabs during the summer, hence the new destinations. Now that things aren't looking too promising, he's running away from the responsibility. Then again, I might be wrong.

    ReplyDelete
    Replies
    1. Anonymous15 February 2018 at 11:18

      That will be a too small reason for a CEO departure. I strongly believe it is his personal reasons. Great job so far from him its not easy to stabilize an airline that was in deep troubles to the state it is in today.

      Delete
    2. Anonymous15 February 2018 at 11:32

      @anon 11:18

      Adria is not stabilized, a stabilized company is making profit, which JP doesn't.

      Delete
    3. Anonymous15 February 2018 at 15:05

      Airline is a very small profit margin business. Can you count 10 who are making profits today?

      Delete
    4. Anonymous15 February 2018 at 16:10

      Ryanair makes huge profit for example.

      Delete
    5. Anonymous15 February 2018 at 16:38

      Ryan will make profit only when all shareholders are paid off and aircrafts cashed-out. That's called profit. Everything else is accounting.

      Delete
  2. Anonymous15 February 2018 at 11:39

    2017 financial results may have caused this. We'll understand it more clearly within a month. If the carrier starts cost cutting measures, bingo! If not, then we need to look for another story.

    But note that it is never personal reasons, never missing family etc. Such reasons are always the PR part to cover the truth.

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    Replies
    1. Anonymous15 February 2018 at 11:43

      ... my guess was/is that they will show profit for 2017 too.
      Remember, there is an investigation going on in Switzerland about Darwin's 13 mio francs which have "misteriously dissapeared" and can't be traced

      Delete
    2. Anonymous15 February 2018 at 15:22

      He lived away from his family. That's a good reasion.
      In fact he was not the the worst CEO; but no experience, too much in details, bad communicator but much better than the rest of 4K.
      It's quite obvious where the millions are, but its not clear how the guy before was able to make the 130mio loss on F7.

      Delete
  3. Anonymous15 February 2018 at 13:02

    Kakav genije im je sada na celu dosada je toliko kompanija utrapio drugima. Mogu da pokusaju VLMu da prodaju adriu.

    ReplyDelete
  4. JU520 BEGLAX15 February 2018 at 15:44

    Gosh, this new guy had so many jobs and not one in aviation. Will that work??

    ReplyDelete
    Replies
    1. Anonymous15 February 2018 at 16:01

      It's worrisome how many different companies he worked for.

      Delete
    2. Anonymous15 February 2018 at 17:20

      To je njegov posao. On preprodaje kompanije. Nije njegovo da se razume i u gatje i u avione.

      Delete
  5. Anonim15 February 2018 at 16:06

    The guy came to adria 2 years ago, he is one of the owners in 4k and is in adria board from first day. So he is far from new to adria. What is it all about. Nowbody knows exept 4k

    ReplyDelete
  6. Anonymous15 February 2018 at 16:32

    He is the owner of 4K and the only credible to take this position at ad hoc interim.

    ReplyDelete
  7. Petar Čelik15 February 2018 at 21:50

    bravo slovenia?

    this adria thing will end in tears

    btw the new guy had more jobs than i have socks

    ReplyDelete
  8. Anonymous16 February 2018 at 00:37

    Adria will remain a trusted and reliable partner of Star Alliance..

    Alles klar?

    ReplyDelete

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