Saad Hammad Named CEO Effective August 1

The Board of Flybe announced the appointment of Saad Hammad as Chief Executive Officer effective August 1. The board said he will bring considerable airline, commercial and business transformation experience to Flybe.

As Chief Commercial Officer of easyJet plc from October 2005 to April 2009, Mr Hammad was credited as being the architect and driving force behind the airline's commercial transformation, delivering significant revenue growth and margin enhancement and creating the European network which formed the basis of building easyJet into one of Europe's most successful airlines. Hammad was also a non-executive Director of Air Berlin plc, the second largest airline in Germany from between May 2011 and October 2012 where he was a member of the Finance Committee.

Hammad is currently a Managing Director at the Gores Group, an operations-focused private equity firm where he has been responsible for leading operational due diligence efforts across Europe as well as working with portfolio company executive teams to achieve full operational potential. Previously, he held a number of leadership positions in brand management, sales and marketing and retailing at Procter & Gamble, Thorn-EMI, Vision Express and the Minit Group and was Managing Director - Europe at Tibbett & Britten, the leader in consumer product logistics where he led a major business turnaround.  Between August 2007 and March 2009, Mr Hammad was a director of Optos plc. He spent three years with the Boston Consulting Group in London where he worked with the top management of leading corporations primarily in consumer-goods and retailing on developing growth strategies and driving operational improvement programs.

Jim French, CBE currently Chairman and Chief Executive Officer of Flybe, will become non-executive Chairman on August 1. "We are delighted to welcome Saad to Flybe," French said. "He brings with him a wealth of industry experience as well as a track record of leadership and Board positions across a range of public and private businesses and we are very much looking forward to working with him. Flybe has recently updated the City on the significant progress made in its major turnaround plan which is on track to deliver over £50 million  ($74.4 million) in long-term cost savings and has generated over £40 million ($59.5 million) in cash to fund the transition. The next key elements of the plan are to capitalize on its revised competitive low cost-base and Flybe's strong brand profile."

"I am very much looking forward to the opportunity of building on what has already been achieved under Jim's stewardship and also on the firm foundations for commercial improvement which he and the Board have made so far this year," Hammad said. Flybe is making excellent progress on its turnaround plan.  The business is once again 'fit to compete' and, with further opportunities to drive its competitive advantages, I look forward to leading Flybe into a new and exciting era."

(Image from file)

FMI: www.flybe.com