jet-airways

NEW DELHI: Jet Airways’ churning of top management has restarted after a brief lull. On Thursday, the airline announced that Cramer Ball has resigned and will not be its CEO from February 29, 2016. In his place, Jet’s director Gaurang Shetty will be the acting CEO of Jet. Ball was appointed to the position in May 2014.

“Jet Airways announces the resignation of its CEO Cramer Ball, effective 29 February 2016 to pursue a new opportunity, in Europe for family reasons … Shetty, who has over 35 years of industry experience and has been with the Company for over 19 years, will now lead the operating committee in managing the day-to-day operations of the Company, under the supervision and control of the board of directors, chaired by Naresh Goyal,” the airline said in a statement.

Goyal said: “Cramer has, during his tenure, made a significant contribution in the journey to turnaround Jet Airways. The company recorded two consecutive profitable quarters after a gap of eight years. Our best wishes are with Cramer and his family in his future endeavours.”

Ball said: “I am honoured to have been able to play a part in the turnaround of Jet Airways, as it moves towards long-term sustainable profitability. The people at Jet Airways have worked as a team to get this business into shape and I am pleased with the progress that has been made.”

Ball was appointed CEO when Jet was witnessing an exodus of top management after the airline sold 24% stake to Abu Dhabi’s Etihad in 2013. In May 2014, Jet’s CEO and chief financial officer, Ravishankar Gopalakrishnan, had quit. At that time also Shetty was made in-charge.

Gopalakrishnan had taken over from Garry Toomey, who was brought in after Goyal’s long term confidante Niko Kardassis had quit following differences over the Etihad deal.

Last three years have seen top Jet people like Toomney, chief commercial officer Sudheer Raghavan and vice-president (commercial strategy and investor relations) KG Vishwanath quitting.