Jan 9 (Reuters) - IAG on Friday appointed José Antonio Barrionuevo, its British Airways division's finance chief, as the group's new chief financial officer, succeeding Nicholas Cadbury in June 2026.
IAG Appoints Jose Antonio Barrionuevo as New CFO Starting June
IAG's Leadership Transition
Jan 9 (Reuters) - IAG on Friday named unit British Airways's finance chief Jose Antonio Barrionuevo as the group's new CFO starting in June, replacing Nicholas Cadbury as part of a planned succession.
Shares of the group, which also owns Iberia, Vueling and Aer Lingus, were down 1.3% at 430 pence by 0831 GMT.
Barrionuevo will take over at a time when the company is dealing with substantial weakness in its U.S. markets that is threatening overall profits.
Impact on Company Performance
"Our focus remains on performing for our customers, in transforming for the future, and delivering strong shareholder returns," CEO Luis Gallego said in a statement, highlighting Barrionuevo's experience.
Barrionuevo's Background and Experience
He has held multiple roles within IAG over the years. Barrionuevo joined the group in 2013, when he was appointed as the director of Strategy and Transformation of Spanish airline carrier Iberia, becoming its CFO thereafter.
For the last three years, he has been serving as British Airways' chief financial and transformation officer.
Outgoing CFO's Contributions
Outgoing CFO Cadbury joined IAG in March 2022, and the company under him has seen its stock triple in value following losses driven by the COVID-19 pandemic. He will support Barrionuevo's transition until he takes over.
(Reporting by Rishab Shaju in Bengaluru; Editing by Devika Syamnath)
