Broughton steps down, IAG unveils management team

BRITISH Airways chairman Sir Martin Broughton is stepping down as part of corporate governance changes at the airline, parent company International Airlines Group (IAG) revealed yesterday.

Sir Martin Broughton stands down as chairman of BA. Picture: AP

Broughton will continue as deputy chairman and senior independent director of IAG, while BA chief executive Keith Williams will take on the additional role of chairman at the carrier. Williams will stand down from the IAG board.

As part of a raft of corporate governance changes to come in on 1 January, Antonio Vázquez will resign as chairman of BA’s sister airline Iberia, but will continue as chairman of IAG.

The role of Iberia chairman will be taken on by the Spanish airline’s chief executive, Luis Gallego, who will, along with Williams, continue to report to Willie Walsh, IAG’s chief executive.

This means that the IAG board will be composed of 12 members, of which two will be executive directors – the group chief executive and group chief financial officer.

BA, the self-styled “world’s favourite airline”, combined with Iberia to form IAG in 2011. But Iberia has since pushed the parent company deep into the red, as the Spanish national carrier has battled against recession, high unemployment and competition from low-cost rivals.

In the biggest shake-up to the IAG board since the merger, Fernando Vives is stepping down as secretary of the IAG board and his current deputy Álvaro López-Jorrín has been appointed to the role. Lucila Rodríguez has been appointed deputy secretary.