International Airline Group (IAG) CEO Willie Walsh will retire at the end of the March.
Willie Walsh
Walsh, who led the merger of British Airways and Iberia in 2011 to form IAG, will be replaced by current Iberia CEO Luis Gallego.
Prior to the formation of IAG, Walsh was British Airways CEO from 2005 to 2011 and Air Lingus CEO from 2001 to 2005.
Since 2011, IAG has expanded from its original two carries to also include Aer Lingus, Spanish low-cost carrier Vueling and the discount carrier Level.
"Willie has been the main driver of this unique idea that is IAG," company chairman Antonio Vasquez said in a prepared comment. "I hugely admire his commitment, strong leadership and clear vision, always ready to take on whatever challenges lay ahead of him. I am deeply respectful of what he has achieved as CEO of this group, of his sense of fairness, his transparency and his capacity to integrate people regardless of nationalities or backgrounds."
With Thursday's announcement, Walsh has become the second longstanding airline industry stalwart to announce that he will retire in 2020. Tim Clark, who has headed Emirates for 17 years, plans to step down in June.
Gallego has been Iberia CEO since 2014. IAG has not yet announced his successor.