Commodities

Air New Zealand nabs Walmart exec to lead airline

Credit: REUTERS/LUCAS JACKSON

Air New Zealand on Friday named Walmart executive Greg Foran as the airline's next chief executive officer, replacing outgoing boss Christopher Luxon.

Adds details of new CEO, background

Oct 11 (Reuters) - Air New Zealand AIR.NZ on Friday named Walmart executive Greg Foran as the airline's next chief executive officer, replacing outgoing boss Christopher Luxon.

Foran has served as president and CEO of Walmart U.S., a unit of Walmart Inc WMT.N, since 2014. Before joining Walmart, He held a number of positions with Woolworths WOW.AX in Australia.

Foran will take the top spot at New Zealand's flag carrier in the first quarter of 2020. His appointment comes at a time of declining profits for the airline that is now looking to control costs in a low growth environment.

Air New Zealand in June said former boss Luxon would step down in September after seven years in the role, and that he was considering a career in politics among his options.

Walmart in a separate statement said John Furner will replace Foran who plans to stay on with the retailer through January to ensure a smooth transition.

(Reporting by Devika Syamnath in Bengaluru; Editing by Sandra Maler)

((Devika.Syamnath@thomsonreuters.com; +91 80 6749 1130;))

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