Thursday , October 1 2020

Surprisingly new CEO of Norwegian Air


During the summer it was announced that Norwegian Air founder and CEO Bjorn Joss would step down from his role. He was in that position for 17 years and planned to take on a new role as Chairman's adviser.

The airline is working to find a new CEO, and Geor Carlsen, a Norwegian Fo, has been acting as interim CEO. A few names have been dropped as to who could be Norway's next CEO, and now it looks like a decision has been made.

The Norwegian Air has appointed a new CEO

Norwegian Air's Board of Directors has appointed Jacob Jacob Fram as CEO of Norway, effective January 1, 2020. Irir Carlsen will continue as PPO and Deputy CEO.

Niels Smedegaard, chairman of the Norwegian Board of Directors, had the following to say about this appointment:

"I am pleased to announce that Jacques Fram has been appointed as the new CEO of Norwegian, following a thorough search process. His extensive management experience with global companies, proven leadership skills, strong commercial customer orientation and impressive track record of value creation will greatly benefit the Norwegian as the company enters a new phase. I look forward to working with Jacques Jacob Fram and the rest of the Norwegian management team. Together we will drive efficiency and continuous improvement for the benefit of our customers, shareholders and employees. "

I had assumed that the Norwegian would hire a veteran for the position, and I had a few names in mind that I expected to see. Their choice was not one of them. As it turns out, this is because the new choice didn't work for the airline.

The 57-year-old Norwegian, obeykob Fram, has 30 years of experience with large international companies. He has previously held leadership roles in Circle, Statoil Fuel & Retail (SFR), McDonald's and McKinsey.

A few other notable points:

  • He led the SFR listing process on the Norwegian Stock Exchange in 2010
  • He led the global rebranding of Circle K.
  • He is the author of the book The Essence of Business

Temple had the following to say about his new role:

"The Norwegian has made a history of aviation and I am honored to take over as CEO. The airline is characterized by strong competition and unforeseen events, but it is also an industry that is important to people everywhere. I look forward to using my experience to build on the strong foundation laid by Bjorn Osos, Iris Carlsen and the rest of Norway's talented and dedicated team. Now, my main focus will be to bring the company back to profitability and strengthen the company's position as a strong international player in the aviation industry. “

Temple did the work for him

The Norwegian is in a difficult financial situation, so suffice it to say that Fram has done the job for him. We have seen countless European airlines liquid over the past few years, and it seems that Norway has only shunned it for some time.

The airline is on the verge of liquidation, although things generally seem to be moving in the right direction. The airline reported record earnings from the third quarter, although it is also the only quarter in which to make money, given the seasonal transatlantic travel season.

However, the airline insists they have the means to do so by next year and they have worked out a few creative financing options. This seems to limit their upside potential, but at least helps them stay in business.

Bottom line

Congratulations to Temple on his new role. It is interesting to see that the airline appoints someone who has no experience in the airline industry, especially given the fragile state of the airline. I'm not saying it's a little idea, but it certainly follows the trend we've seen in other airlines in similar situations.

Some business principles are applied throughout the industry, but the aviation industry is a special kind of beaver …

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