ROME, Italy – The CEO of Italy‘s loss-making airline Alitalia, Silvano Cassano, has resigned nine months after taking on the job, the company announced Friday, citing “personal reasons” for the decision.
Cassano, 58, had taken up his position in January to lead the company‘s turnaround after last year‘s rescue operation, which saw United Arab Emirates carrier Etihad buy a 49-per-cent stake in the company and pledge to return it to profitability by 2017.
Italian news agency Adnkronos, citing unnamed sources within the company, said Cassano‘s position had become shaky following worse-than-expected results over the course of 2015.
Alitalia‘s business has been hurt by major disruptions at its main hub, Rome Fiumicino, which was badly damaged by fire in May and suffered more problems in July, including a power outage and flight cancellations.
Alitalia chairman Luca Cordero di Montezemolo, a former boss of Ferrari, was named interim chief executive until a replacement for Cassano is found. The company said the appointment would be made soon.