The board of Norwegian airlines decided on Sunday to terminate Jacob Schram’s contract. Geir Karlsen is leaving his job as CFO and becoming the CEO of the airline.
Norwegian announced the news in a press release on Monday morning.
Schram has a nine-month notice period and will support the board full-time during this notice period until March next year.
Until then, he will receive his current salary, and then a 15-month severance pay in monthly payments, as specified in the employment contract from November 20, 2019.
The board tried to reduce the severance pay to reflect the challenges in the aviation industry but did not succeed.
At the same time, the company stated that Geir Karlsen would become the new CEO from Monday.
“I am pleased to announce that Geir Karlsen has accepted the board’s request to step into the role of CEO of Norwegian.
“Karlsen has led the successful financial reconstruction of Norwegian, and he has the competence, focus, trust, and commitment that make him the best CEO for Norwegian,” chairman of the board Svein Harald Øygard noted.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews
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