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Jet Airways’ CEO Gary Kenneth Toomey resigns after brief 7-month stint

16 January, 2014

Gary Kenneth Toomey, chief executive officer of India’s second-largest airline by passenger numbers Jet Airways (India) Ltd, has stepped down from the position with immediate effect, after a stint of just seven months with the airline.

Ravishankar Gopalakrishnan, current chief financial officer of the airline, will take charge as the acting CEO till the firm finds a new chief executive, the company said in a filing to the stock exchanges.

Toomey was appointed CEO of Jet Airways in mid-June 2013 when Nikos Kardassis resigned from his position after serving his second term with the carrier as CEO from October 2009 to May 2013. He previously served the airline between 1993 and 1999.

An Australian national, previously, Toomey worked with Air New Zealand Group as president and CEO and Airlines PNG in Papua New Guinea as CEO. Prior to these jobs, he also worked with Qantas Airways Ltd as deputy CEO and CFO of Australian Airlines.

He holds a Bachelor of Commerce degree from the University of Melbourne, is a fellow of the Institute of Chartered Accountants, the Australian Society of Certified Practicing Accountants, Taxation Institute of Australia, the Australian Institute of Management, and the Australian Institute of Company Directors.

Meanwhile, the Foreign Investment Promotion Board has written to Jet Airways, pertaining to the $379 million deal between Jet Airways and Etihad, seeking details of the previous promoter company Tail Winds. Tail Winds is the overseas incorporated privately held holding arm of promoter Naresh Goyal. Goyal bought the stake held by Tail Winds prior to completing the deal with Etihad.

Jet Airways recently offloaded 24 per cent stake to Abu Dhabi-based Etihad.

(Edited by Joby Puthuparampil Johnson)


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Jet Airways’ CEO Gary Kenneth Toomey resigns after brief 7-month stint

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