SAS: CEO to leave after 10 years

(CercleFinance.com) - SAS announced late on Monday that its chief executive Rickard Gustafson is retiring, with the Scandinavian airline immediately starting to look for a replacement.


Rickard Gustafson, who is 56 years old, said he has been appointed as the new CEO of Swedish engineering specialist SKF, the world's leading supplier of ball bearing systems.

He will leave SAS by 1 July this year.

Under his management, Scandinavia's biggest airline has made a remarkable turnaround, becoming profitable after several years of losses.

Gustafson became SAS' CEO in September 2010, after being the CEO of insurance company Codan/Trygg Hansa and holding several positions at US industrial giant General Electric.

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