Vueling shareholders approve new management

27 November 2007

MADRID – Shareholders of Vueling on Monday approved a new management team at an extraordinary meeting after months of tension with the carrier’s main shareholder Inversiones Hemisfero, which was unhappy with the previous team.

Hemisfero yesterday rejoined the airline’s 10-member board with three directors. Josep Creuheras, one of Hemisfero’s representative, pledged the investment company’s commitment to the loss-making Vueling, which is suffering from cut-throat competition.

Former government minister Josep Piqué was named chairman and Lars Nygaard, a former employee of Vueling’s domestic rival Spanair, as chief executive officer.

Subject: Spanish news