Javier Ferrán, president of Diageo, will replace Antonio Vázquez in the presidency of IAG, the group that owns Iberia, British Airways or Vueling. Vázquez announces his departure for next January, which is when he will be 10 years in office (the maximum recommended in the code of good practice). Willie Walsh will also take over as CEO in autumn , who will be replaced by Javier Gallego, current President of Iberia.

All these appointments and changes in the leadership of the holding's airlines (Gallego, in turn, will be replaced by Alex Cruz, current president of Vueling ...) produce the worst moment for the history of the group and the air sector in general , which faces unprecedented losses due to the fall in demand derived from the pandemic.

The IAG Board of Directors has approved Vázquez's succession plan, as well as the unanimous appointment of Ferrán as his successor. Vázquez will leave his position as member and president of the Council in January , although he will continue to preside over it for the rest of the year 2020, thus giving way to "an orderly transition" in the presidency.

Experience in consumption

The future president Javier Ferrán has been an independent director of IAG since June of last year. He has extensive experience in the consumer and finance sector. Since 2017 he has chaired the Diageo group, the multinational owner of beverage brands such as J&B and Guinnes.

He started in the world of finance, at the British bank Lloyds TSB, he worked at Martini & Rossi and in 1992 he joined Bacardi, where he was regional president for Europe, the Middle East and Africa.

In addition to being president of Diageo, he is a non-executive director of Coca Cola European Partners and a member of the Supervisory Board of Picard Surgeles .

He was a member of the Esade International Advisory Council between 2005 and 2019, has been a non-executive director at Associated British Foods between 2005 and 2018 and a member of the Agrolimen Advisory Board or vice president of William Grants & Sons Limited.

"Together we have created a group that has become a benchmark in the aviation industry," said Willie Walsh of the manager. "It has been a pride to participate in the creation of the group (...) the solidity and character of IAG will allow it to navigate the difficult circumstances in which we find ourselves," said Vázquez.

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