Kardassis to be Jet CEO; Prock-Schauer steps down

Kardassis to be Jet CEO; Prock-Schauer steps down

Mumbai: Wolfgang Prock-Schauer resigned as chief executive officer (CEO) of Jet Airways (India) Ltd on Wednesday and will leave at the end of October, said two senior executives familiar with the development. They declined to be identified because they are not authorized to speak to the media.

Nikos Kardassis—who will replace him as acting CEO for the next six months, and held the post between 1993 and 1999— now heads Jet’s North American operations. Jet Airways is India’s largest private sector carrier by passenger traffic.

A Jet spokesperson declined to comment as did Prock-Schauer’s office. Kardassis could not be reached for comment.

According to another senior Jet Airways executive familiar with the development, Prock-Schauer’s contract with Jet Airways expires at the end of the month and he did not want to extend it. This person said Prock-Schauer would be taking up a position with a European carrier. “I have mixed emotions. Prock-Schauer was with the company for so long. But Kardassis’s entry will be a big boost for the carrier," he said.

Prock-Schauer, who became Jet CEO in June 2003, was earlier executive vice-president (network management and alliances) at Austrian Airlines. He also served as chairman of the alliance management board of the largest operating grouping of global carriers, Star Alliance.

Jet Airways shares rose 4.45% in Mumbai trading to Rs435.25 each on Wednesday.

The country’s second largest private carrier Kingfisher Airlines Ltd is also scouting for a new CEO.