Etihad Airways parent company says its CEO is leaving

Markets Associated Press

(The Associated Press)

Etihad Airways' parent company says its chief executive is leaving following a multi-year buying spree that saw the Mideast carrier snap up stakes in airlines from Europe to Australia.

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The Abu Dhabi-based airline gave no reason on Tuesday for James Hogan's departure. A search is ongoing for a replacement.

The development follows speculation about Hogan's possible exit and questions about Etihad's ability to turn around struggling investment partners such as Air Berlin and Alitalia.

Etihad last year named longtime Etihad executive Peter Baumgartner as CEO of the airline itself as part of a wider restructuring.

Hogan, who was previously CEO and president of the airline, was named president and CEO of the umbrella company Etihad Aviation Group.

Etihad says the Australian will leave in the second half of this year.