Image source: NZShareholder.co.nz

Air New Zealand has announced it will have a new head in 2013 as current chief executive Rob Fyfe plans his final year with the airline.

Stepping down after almost seven years as CEO, he will officially leave the carrier on 31 December this year, noting his decision will enable “very talented and capable executives” to fulfil their potential.

He explained that stepping into the head role in 2005, he did so with the commitment to ensure the carrier was supported by a strong team and had a “world class reputation, a strong balance sheet and a clear strategy for the future”.

Over the year, Mr Fyfe has helped Air New Zealand through “some extremely significant challenges” and he along with his team used that as an opportunity to reinvest in the carrier and enhance its competitive edge, he said.

“I will be working hard as chief executive officer for the remainder of the year to deliver on this commitment and to improve the financial performance of the business,” Mr Fyfe noted.

“I am not prepared to see the tough global economic environment used as an excuse for falling short of the return we should be delivering shareholders.

“I want to leave Air New Zealand with the confidence that we have the pathway to sustainable strong growth to support the New Zealand economy.”

With the confirmation to step announced early morning, Air New Zealand chairman John Palmer said a replacement is yet to announced, but predicts it could take the usual six months to find a new chief executive.