Air New Zealand Ltd named Walmart U.S. boss Greg Foran as its new chief executiv...
) named Walmart U.S. boss Greg Foran as its new chief executive on Friday, bringing him back home at a time the airline is trying to control costs in a lower-growth environment.
Air New Zealand Chairman Therese Walsh said the carrier was “thrilled to have attracted a world class Kiwi back home.” “In the short term, it’s not going to have a major impact on earnings, there’s bigger things moving in the background like oil prices and global growth,” Williamson said. Air New Zealand shares were marginally higher at NZ$2.85 on Friday.
The airline is known overseas for its quirky safety videos and consistently ranks highly in global airline customer surveys. However, it has more recently faced challenges from a higher fuel bill and weak travel demand, leading the national carrier to report a 31% fall in annual profit in August.
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