Finance chief takes the top job as Norwegian sacks CEO
Norwegian’s finance chief has today taken up the top job at the carrier after leading it through a radical restructuring prompted by the pandemic.
Geir Karlsen will take over from Jacob Schram, who was sacked by the board yesterday.
“The board’s decision to fire me came as a big surprise,” Schram told Reuters today.
Karlsen, who joined Norwegian in 2018, previously held the same role at shipping and oil firms such as Golden Ocean Group and Songa Offshore.
Last month the carrier emerged from a six month restructuring process, despite many predicting that the pandemic would spell the end for it.
But now Norwegian will operate solely as a short-haul airline, having discontinued the transatlantic operation that fuelled its rapid growth, with a fleet of just 51 aircraft.
“I am pleased to announce that Geir Karlsen on request of the Board has accepted the job as chief executive of Norwegian”, said Svein Harald Øygard, chairperson of Norwegian’s board.
“Karlsen has successfully led the financial reconstruction of Norwegian and has the competencies, focus, trust and dedication that makes him the best choice as chief executive of Norwegian.
“As travel bans now are about to be lifted, Norwegian stands ready to offer thousands of flights to our customers in the Nordics and abroad.
“In parallel, further efforts will be made to strengthen Norwegian´s position as a low-cost airline and to return the company to sustainable profitability. Geir is the ideal chief executive to lead these efforts.”
Karlsen said: “I appreciate the trust given by the Board of Directors, and I am pleased to accept the opportunity of serving Norwegian in a new role as chief executive.
“Going forward, our main priorities will be to increase the profitability of our low-cost operations and to attract new and existing customers in all key markets.
“Norwegian is well positioned following the recent reconstruction of the company, with a strong brand, proven products and services, and not least a team of highly experienced colleagues ready to fight for every customer.”
Karlsen will receive a salary of NOK 4.5m (£375,000).