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Rickard Gustafson leaves SAS after ten years as CEO and joins the Swedish industrial company SKF. – Disappointed and regretful, says the chairman of the board.
Rickard Gustafson resigns as head of SAS after ten years.
Johan Nilsson / TT / TT NEWS AGENCY
Rickard Gustafson leaves SAS after ten years as a senior manager.
Your last day as CEO will be July 1 at the latest.
– After ten intense and stimulating years, the time has come to pass the baton to the next CEO of SAS during the first half of 2021, as I accepted the opportunity to join one of the largest industrial groups in Sweden, says Gustafson in a message from the airline.
– SAS has a strong position in the Scandinavian market and is well positioned to lead the aviation industry towards a more sustainable future when the pandemic is under control, says Gustafson.
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Goes to SKF
The industrial group that Gustafson aspires to is the Swedish company SKF.
There, he will take over as CEO for the year, according to a press release.
– I am excited and grateful for the opportunity to join SKF, a company highly respected in its industry, says Gustafson.
Before assuming the position of CEO of SAS ten years ago, Gustafson led the Scandinavian insurance company Codan / Trygg Hansa. He has also held various positions at General Electric.
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– Disappointed and regretful
It’s unclear who will take over as SAS’s new top manager, but the airline has begun the search.
– SAS is still in a critical but stable position and, of course, the board has immediately started the process of appointing a new CEO for SAS, says Chairman Carsten Dilling in a statement.
He thanks the outgoing top manager for his efforts.
– I am disappointed and regret that Rickard is leaving his important role at SAS. At the same time, on behalf of the SAS board, I would like to thank Rickard for his fantastic performance during his ten years as CEO, says Dilling.
– Under Rickard’s leadership, SAS has achieved a remarkable turnaround, from losses to several years of profitable operations. Recently, he has led the company with confident hands through the first part of the toughest crisis in the company’s 75-year history, he continues.
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Historical deficit
SAS, which operates with skewed financial years, released its latest quarterly report in early December.
Here it became known that the airline posted a pre-tax profit of minus NOK 10.6 billion in the fourth quarter.
This is the largest deficit in the modern history of the company, according to a survey dating back to 2006.
SAS, like the rest of the aviation industry, has battled the virus pandemic and subsequent travel restrictions.
The company’s latest traffic figures, which apply to November 2020, showed an 86 percent drop in passengers compared to the previous year. That month, a total of 331,000 passengers flew with SAS.
During the fall, the airline has been able to put in place a comprehensive crisis package against the pandemic.
It includes several editions, in which the Swedish and Danish states have injected fresh money. The Wallenberg family and other owners have also contributed. Additionally, SAS has converted some debts.
The Norwegian state has not participated in the crisis package.
