Jet Airways Chief Executive Officer Nikos Kardassis has quit after a five-year stint.

Coming on the heels of the Abu Dhabi-based Etihad Airways picking 24 per cent in the Indian carrier in April, the resignation suggests a management rejig.

Jet announced the June 5 effective resignation in a stock exchange filing that however did not give any reason.

Second stint

An airline statement merely said: “The Board recognises the significant contributions made by Kardassis over five years to enable the company to secure its leadership position in the aviation industry and greatly appreciates his efforts.”

Jet named Capt Hameed Ali, Chief Operating Officer, the acting CEO till the Board appoints a new chief executive.

Ali has been with Jet Airways since October 2007, when he joined as Executive Vice-President, Operations and Engineering.

Kardassis, who was part of Jet’s founding team in 1993, was serving his second stint as the CEO.

His first stint was from 1994 to 1999, and the second began in 2009.

Strategy advisor

Before taking over as CEO, Kardassis headed Jet’s US operations as senior vice-president.

A senior advisor to Chairman Naresh Goyal on finance and strategy, Kardassis was closely involved in the airline’s restructuring, and cost and network management .

nivedita.ganguly@thehindu.co.in

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