In a surprise move, Austrian Airlines group chief executive Vagn Soerensen has announced he will step down from the carrier when his contract expires at the end of September 2006.
“I decided for private reasons not to extend my contract for another four to five years,” he told Airline Business, “and will basically be looking broadly for new challenges. But I am strongly attracted to the airline business, in which I have over 20 years of experience. And I also feel that I have a lot to give, should the right opportunity arise.”
Soerensen, 45, has spent most of his career outside his native Denmark. “Extending the term of my contract of employment would mean that my family and I would be unable to return to Denmark for another four to five years. After careful consideration, therefore, I have decided that we should move back to my home country.” Without the necessity to leave until September, there will be time for a measured search for a successor.
Since joining Austrian in October 2001, Soerensen has rebranded the carrier, reorganised its various airline divisions, focused its strategy on being a leading player in connections to eastern Europe and served as chairman of the Association of European Airlines.
He has spent the bulk of his career at SAS, in a variety of senior roles, but was forced to resign as deputy chief executive in July 2001 over his role in a price-fixing affair with Maersk Air.
MARK PILLING/LONDON
Source: Airline Business
