Wed, 17 Jan 2018 |
Fritz Schur to Step Down as Chairman of SAS
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Fritz Schur has notified SAS's nomination
committee that he is not available for re-election as Chairman or
as a member of the Board from SAS ABs 2018 AGM on 5 March 2018.
Fritz Schur has been a member of the Board of SAS AB since 2001
and its Chairman since 2008.
In my time on the Board, SAS has undergone a
total transformation, said Fritz Schur. Above all, cost levels
have declined significantly, which has enabled SAS to lower ticket
prices. This has lead to considerably improved competitiveness.
After a number of years with negative earnings, for the third
consecutive year, SAS has posted billion-krona earnings and,
moreover, recently delivered its best results for 20 years. With
Rickard Gustafson and his team, SAS has a highly qualified
management team and given the expectations for 2018, this is an
appropriate moment to change Chairman.
SAS President and CEO Rickard Gustafson, said,
During Fritz Schurs time as Chairman, SAS has undergone a major
transformation to meet increased global competition. Operations
have been fundamentally changed, from the destinations offered,
the customer offering and the cost structure to production
platforms and the aircraft fleet. Fritz Schurs chairmanship and
his considerable commitment have been decisive in this change
process and key to bringing about SASs current position, where
the company can look forward and further strengthen its position
as the natural choice for all passengers who need to travel to,
from and within Scandinavia.
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