Aircraft carrier GoAir is unlikely to renew the contract of its CEO Wolfgang Prock-Schauer which expires in June 2018, likely leading to the exit of the aircraft industry veteran by May next year, according to a report in the Business Standard (BS).
The financial daily said on Monday that Wadia Group-owned GoAir's decision to not renew Prock-Schauer's contract has come as a surprise to many in the aviation industry. Prock-Schauer had been promoted to the position of managing director last year, and the airline has delivered consistent profits during his tenure.
Under the Austrian's watch, the airline remained consistently profitable and posted profits of Rs 300 crore in 2016-17, the BS report said.
The former Air Berlin chief was appointed to head GoAir as CEO in May 2015 two months after its earlier CEO Giorgio De Roni quit "on health grounds".
In the wake of the CEO's departure, the report said that GoAir is realigning its existing management structure.
"Primary operational departments like finance, human resource, sales and revenue management will be handled by former Vodafone executive Anand Sahai who joined the airline in July. Prior to joining the Wadia Group-promoted carrier, Sahai was spearheading the launch of a multinational energy drink major as its country manager," the report said.
Wolfgang Prock-Schauer was overseeing the launch of the airline's international operations – a job he had performed with distinction for his previous employer Jet Airways.
GoAir Chairman and Managing Director Jehangir Wadia is likely to steer the company ahead as an executive search gets underway for Prock Schauer's replacement.
Prock-Schauer had served as CEO of Jet Airways from 2003 to 2009 after which he left to join Lufthansa-owned British Midland in the UK.
During his Jet Airways stint, he oversaw important milestones in the carrier's history such as commencement of its international operations in March 2004 and its Rs 1,450-crore takeover of Air Sahara in 2007.
Prior to joining Jet Airways, Prock-Schauer was executive vice-president, Alliance and Long Term Planning with Australian Airlines. He also served as Chairman of the Star Alliance Management Board.
He had worked with Air Berlin between January 2013 and February 2015.
Between Jet and Air Berlin, Prock-Schauer was CEO of British Midland Airways for three years. The airline -- later renamed BMI -- was sold to British Airways by Lufthansa in 2012.
