Chief Financial Officer of International Airlines Group (IAG), Nicholas Cadbury, has announced that he will be stepping down from the role in June 2026 and leaving the company to explore new avenues. Some notable airlines part of IAG include British Airways and Iberia.
Who will be taking over the role?
Current Chief Financial and Transformation Officer at British Airways, José Antonio Barrionuevo, will be taking over the role immediately from Cadbury’s departure, already showing financial leadership and innovation with the company since his appointment in July 2023. Luis Gallego, IAG’s CEO, expressed his support for the transition:
“I’m Delighted that José Antonio, a talented leader from within the group, will be taking over from Nicholas. he brings significant experience in finance, transformation and strategy in both Iberia and British Airways. He is a well respected, accomplished and experienced CEO with a strong track record.”
What does the landscape of BA and IAG look like right now?
Barrionuevo’s appointment comes at the hand of succession-building within the company, in which IAG wants to continue to build substantial and effective leaders through its senior partners. However, he is taking over the company at a time when IAG is struggling with losses from the US Stock Markets and dwindling profits. Shares of major airlines involved, including BA, have been down by 1.3% as of the new year.
Barrionuevo comments:
“I am looking forward to continuing my career with IAG now as CFO for the group. IAG is well positioned to continue stable long-term growth, industry leading profitability and value creation for our shareholders.”
Do share your thoughts on this new development in the comments.
