British Airways owner IAG’s CFO to leave, replacement poached from Whitbread


British Airways owner IAG’s chief financial officer Steve Gunning is to leave after the release of the company’s full-year 2021 results next February, the airline group said today.

His replacement, Nicholas Cadbury, is joining from Whitbread where currently he is Group Finance Director, having joined the group in 2012.

Luis Gallego, IAG’s Chief Executive Officer, said: “I would like to thank Steve for the key role he has played in leading the Group through the unprecedented challenges we have faced in the last 18 months and wish him well for the future.

“His efforts and achievements have enabled us to navigate the pandemic better than most in our sector”.

Talking about Cadbury, Gallego said he is a well-respected, accomplished and experienced CFO with a fantastic track record at Whitbread, Premier Farnell (LSE:PFL) and Dixons Carphone.

“In the short term, our focus remains on delivering the best end possible to 2021 and ensuring we are set up to return to profitability in 2022,” Gallego added.

Gunning said: “Having helped guide the Group successfully through the challenges of the last two years, it is now the right time for me to seek a new challenge.

“The group is well-positioned to take advantage of the recovery in air travel and to emerge a strategic winner in the industry.”


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