In a surprise move, Cargolux CEO Dirk Reich has stepped down citing personal reasons, two years after his appointment at the all cargo carrier.
According to the Luxemburger Wort newspaper the news emerged Wednesday evening that Reich would leave with immediate effect, after “losing support”, the newspaper said without elaborating. The decision is yet to be officially announced and still remains to be approved by the board, the report quoted Infrastructure Minister François Bausch as saying.
According to local media reports, Richard Forson is the favourite to take over the helm of Cargolux. Forson served as interim CEO before Reich assumed the post in March 2014.
Earlier this year, media reports citing sources close to the Cargolux China venture reported warnings of a “commercial calamity.” The reports said that Reich had lost the backing of Luxembourg’s minister of transportation and shareholders of the airline.