Lufthansa Names Streichert From Amadeus as Next Finance Chief [BNN Bloomberg (Canada)]
AMADEUS IT GROUP UNSP/ADR (AMADY)
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Source: BNN Bloomberg
Streichert joins from flight-bookings specialist Amadeus IT Holding SA, according to a statement by Europe's largest airline group on Monday. He'll take up his role mid September and was granted a three-year contract, Lufthansa said. Steenbergen is leaving to join specialty chemicals maker Sandoz Group AG, where he will take over in July. His departure at Lufthansa, announced in late February, coincided with a wholesale shakeup of top management, with four of its six most senior executives departing — though Chief Executive Officer Carsten Spohr is staying on. At Lufthansa, Streichert will need to help stabilise earnings after a wave of strikes in recent months forced the company to scale back its ambitions. The airline said last week that it will need to identify some cost cuts as a result. The company is also engaged in the protracted takeover attempt of Italian carrier ITA Airways, with European competition authorities taking a deep dive into the proposed transaction. Read M
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