Portugal Seeks CEO to Bring Flagship Carrier Back From Brink

Portugal’s decision to oust the chief executive officer of TAP after a rescue of the nation’s leading airline has created an urgent vacancy to fill at a time when a broad overhaul is needed, Bloomberg News reported. As the government agreed to boost its holding in loss-making TAP to 72.5% on July 2, it simultaneously ended the tenure of Antonoaldo Neves after more than 2 1/2 years at the helm. Finding a new CEO could take at least 60 days, said Fernando Neves de Almeida, managing partner of headhunter Boyden Portugal, which isn’t involved in the executive search. That’s precious time given airlines are fighting for survival while travel slowly recovers from the coronavirus hit. “I think it’s impossible to find a new CEO for TAP in a shorter period because the search needs to go beyond Portugal,” said Neves de Almeida. Read more