AIR - Air NZ.

**percy** · 30-01-2012, 09:56 PM

Exciting times? I hope so as it has been a bit depressing of late.
Would it be time to have Ralph Norris on board again? Would make a fine chairman.

**corporateraider** · 30-01-2012, 09:58 PM

Modandum
EZE ? Ezeiza -Buenos Aries?

CJ · 31-01-2012, 08:34 AM

Rumour is out (on Stuff I think) that Rob Fyfe will resign before the pending Govt float of 25%.

He is seen as a "rock star CEO" (not my phrase) so assume the SP will go down on anticipation and on announcement.

He made CEO in October 2005 - how has the company actually gone (performance wise) under his guidance. It hasn't gone bankrupt like many of the American ones but it did require a Govt cornerstone to give it stability.

**modandm** · 31-01-2012, 10:29 AM

Originally Posted by CJ

Rumour is out (on Stuff I think) that Rob Fyfe will resign before the pending Govt float of 25%.

He is seen as a "rock star CEO" (not my phrase) so assume the SP will go down on anticipation and on announcement.

He made CEO in October 2005 - how has the company actually gone (performance wise) under his guidance. It hasn't gone bankrupt like many of the American ones but it did require a Govt cornerstone to give it stability.

Yes it has been floating around for a while - he was turned down the CEO gig at Fonterra. I don't think the shareprice will be impacted. The "rockstar" is more to do with his fashion sense and popular appeal than anything. He does have his detractors though - who suggest NZ has been to conservative and not taken advantage of its rights to fly from australia to asia and the us.

My personal view is that he has done a great job creating a positive culture which is so important, and steered the ship safely through the GFC, dealt well with the loss of an A320 and NZ souls aboard, apologised for erebus, and really made AIR the most trusted brand in NZ - a wonderful achievement. He also presided over S2S which has been a great success.

He has however not done enough to improve the financial performance by making the tough decisions, which are finally being fronted up to. The non fuel cost per seat mile of AIR is still to high. This only really applies to the international business - but when you are competing globally having a competive cost base is essential.

I hope Rob McDonald the present CFO is appointed to replace Rob Fyfe. He is really the brains behind the business and has his finger on the pulse - knows all the details as you would expect. Fyfe often defers to him in analyst questioning and generally seems less in touch with the operations of the business. I'm not a expert on being a CEO and I guess his focus is more on strategy, culture, and who knows what else but my feeling is that NZ needs an operator to squeeze every dollar of profit out of it. As we know with Airlines it can be like blood from a stone. But who better than a aviation wise accountant who knows everything about the company already.

Let us pray they don't bring in some fool who doens't understand NZ culture values and what makes AIR special.

**modandm** · 31-01-2012, 10:31 AM

Originally Posted by SparkyTheClown

Well, the saying goes that you don't buy before you know who the new CEO is, and what they plan is.

Others say that the resignation of a good CEO is a reason to sell or reduce your holding.

Be interesting to see what happens with the SP over the week.

Rob Fyfe has been at AIR for a while - he himself says it's important to let someone else with fresh ideas and new vigour take over. Stale CEO's are bored and can often be toxic for a company.

**modandm** · 31-01-2012, 10:37 AM

Wow just read the announcement - sorry to be spamming the thread. Fyfe will step down in 2013.

http://theflyingsocialnetwork.com/archives/992

And folks - it seems like I called it re Rob McDonald based on:

"Rob has also been clear with the Board that he did not want to become a road block to the career aspirations of the executive management team and the decision to leave at the end of this year will create an opportunity for growth and renewal within that team at Air New Zealand"

"we believe there are some very strong candidates from within Air New Zealand’s existing executive management team"

Both quotes - Chairman NZ

**Hoop** · 31-01-2012, 10:49 AM

Yes the rumour been around for a while now and I think Mr Market has known this and it is already factored in to the shareprice.
AIR currently down 1c to 90 (-1.1%) but thats more likely due to investor reactions to the "European noise" as the NZX50 index is down -0.6%.

However............. it disgusts me to read it in the Newpaper before the official shareholders announcement at 10.05am today....Come-on you guys at the NZX show some respect for the shareholders..they should officially know before it hits the press.

**Zaphod** · 31-01-2012, 11:17 AM

Originally Posted by Hoop

However............. it disgusts me to read it in the Newpaper before the official shareholders announcement at 10.05am today....Come-on you guys at the NZX show some respect for the shareholders..they should officially know before it hits the press.

IMO this information should be distributed to all parties at the same time. No preference should be given to any one party, whether they are current shareholders, future shareholders or otherwise.

**macduffy** · 31-01-2012, 11:56 AM

However............. it disgusts me to read it in the Newpaper before the official shareholders announcement at 10.05am today....Come-on you guys at the NZX show some respect for the shareholders..they should officially know before it hits the press.

Quite so, but are you sure that it's the NZX at fault here?

Do we know when the company advised the NZX?