Finnair's President & CEO resigns

Finnair's President & CEO Jukka Hienonen has resigned from his post.                                                      
“My four years in Finnair's service has included both periods of success as well as the increasingly adverse development of the entire sector, and now a clear change of course is required. I am not satisfied with  
the results achieved; the rate of change has been insufficient,” says President & CEO Hienonen.                                                                
“Many structures as well as the company's culture have been  formed in totally different conditions. With these we cannot do well in the present competitive environment, but changing them has proved to be extremely difficult. Some personnel organisations have shown no willingness to adapt.”   
“Finnair has a good and effective strategy, on which it would be possible to build future success. It will require a lot of work and also a completely different way of thinking in terms of working conditions. Finnair has many expert personnel and an excellent management team, with whom I have been able to work. I wish to extend to them my warm thanks.”                                                                               
Finnair's Board of Directors regrets Jukka Hienonen's resignation.                                          
“The decision is entirely President & CEO Hienonen's own. I am sorry at his decision, because cooperation between Jukka and the board has always been excellent,” says Christoffer Taxell, Chairman of Finnair's Board of Directors.                                                                                
Jukka Hienonen continues as President & CEO for the time being. The period of notice in Hienonen contract is six months. Because Hienonen's resignation is at his own request, no severance pay will be paid.  

(Source: Transport Weekly)