Norwegian Air Shuttle has appointed a new chief executive. Former energy retail company head and management consultant advisor Jacob Schram will serve the airline as its new CEO from the start of next year.
Who is Jacob Schram?
According to a press release sent by the Scandinavian carrier, the new executive will start to commence his duties on New Year’s Day 2020. Schram was previously the boss of energy retail firm Statoil. This was before he became a senior adviser at management consultancy McKinsey. Norwegian chairman Niels Smedegaard spoke of how his appointee’s expertise will assist the carrier.
“His extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase,” Smedegaard said of Schram, as per the press release.
“I look forward to working with Jacob Schram and the rest of the Norwegian management team. Together we will drive efficiency and continuous improvements to the benefit of our customers, shareholders, and employees.”
This appointment follows a series of struggles for Norwegian. Earlier this month, the company held its third fundraiser in two years. This was in an effort to boost liquidity during a long period of financial difficulty. Subsequently, the airline sold $272m worth of shares and bond issues, causing its stock to fall by 10 percent.
The carrier will be hoping that Schram’s experience will lead it to greater heights in the new decade. The businessman’s success led him to write a book titled, “The Essence of Business”. The 57-year old has also given presentations on the topic of future mobility. Now, he is given the task of pushing Norwegian into new success.
Hope for the future
Current CEO Geir Karlsen will remain with the company as chief financial officer and deputy CEO. He had only held this position since the summer after Bjørn Kjos stepped down. Smedegaard thanked Karlsen before stating that he helped improve the fate of Norwegian.
“I would like to take this opportunity to thank our CFO Geir Karlsen for his remarkable efforts since Bjørn Kjos stepped down in July. During the last months, the company has taken a series of measures which have resulted in strong financial improvements.”
2020 will be a crucial year for the airline. Following various efforts to reorganize finances, it will be hoping that it has done enough to keep its ambitious operations going.
Simple Flying reached out to Norwegian to hear more about its decision to appoint Jacob Schram as CEO. However, we didn’t hear back before publication. We will update the article with any further announcements.
What do you think of Norwegian’s decision to appoint Schram as its chief executive? Let us know your thoughts in the comment section.