Cargolux VP resigns
19 / 09 / 2011
JUST a day after it snubbed Boeing’s brand new 747-8Fs Cargolux has announced top management changes.
The company’s executive vice-president and chief financial officer (CFO) David Arendt has resigned to pursue other business interests at a new freeport to be based at Findel, Luxembourg’s national airport.
Arendt has been with the company since 1998 as CFO and was named executive vice-president in May 2003. Cargolux, Europe’s largest all-cargo airline, expects to co-operate closely with the VAT-free zone at Findel, designed to enhance the attractiveness of the Luxembourg logistics sector by creating a new niche for forwarders of valuable goods.
The carrier has appointed a new board chairman to succeed Marc Hoffman, who remains a board director.
Albert Wildgen, who heads the estate of the Grand Duke of Luxembourg and has been an independent director since the closing of the strategic partnership transaction between Cargolux and Qatar Airways on 8 September, has assumed his new role as board chairman.
It remains to be seen if the two-year long frustrations between Boeing and Cargolux, culminating in the rejection of the two freighters, have divided management at the carrier.