Geneva, 19 December 2019: Wizz Air Holdings Plc (the "Company" and, together with its subsidiaries, "Wizz Air"), the largest low fare - low cost airline in Central and Eastern Europe, announces that Jourik Hooghe will be appointed as Executive Vice President and Group Chief Financial Officer, effective from 1 February 2020. Mr. Hooghe will report to the Company's Chief Executive Officer and be a member of the Company's executive team based in Geneva. He will be responsible for Wizz Air's Finance and Supply Chain organizations with the Company's Chief Investment Officer, Chief Supply Chain Officer, Head of Financial Planning and Controlling and Head of Accounting as direct reports. Iain Wetherall, currently CFO will be appointed to the newly created Chief Investment Officer position reporting to the EVP and Group CFO. His responsibilities will extend over corporate finance, investor relations, strategic analytics and subsidiary financial governance, as of 1 February 2020. Iain will remain a member of the Company's executive team based in Geneva.
Mr. Hooghe has a proven track record as a global operating executive with 20 years of experience in strategy, operations and finance for consumer goods and retail businesses. He worked for eighteen years at Procter & Gamble (P&G), a world leading consumer goods company, where his responsibilities covered various roles in finance, including Head of Global Strategy and Regional CFO of multi-billion dollar businesses across Europe, India, Middle-East and Africa and Greater China. In January 2018, he joined the Adecco Group as Senior Vice President, Group Strategy, Finance and Accounting, where he led the evolvement of the company's strategy, step-changed the performance framework and transformed the finance and accounting team into a high-impact, data and technology-driven organization.
Mr Wetherall joined Wizz Air in July 2011 as Head of Corporate Finance and, following the Company's initial public offering in 2015, he also led the Company's investor relations function before taking on the Head of Financial Planning and Control and Investor Relations in September 2016. Mr. Wetherall then became the Chief Financial Officer in August 2017 responsible for the accounting and tax, as well as financial planning and controlling. He is a chartered accountant, holds an Advanced Treasury Diploma from the Association of Corporate Treasurers, a Securities and Investment Diploma from the Chartered Institute for Securities and Investments and was a Securities Representative authorized by the Securities and Futures Authority (now Financial Conduct Authority). Prior to Wizz Air, Mr. Wetherall gained experience in tax and treasury, corporate finance, mergers and acquisitions, accounting, audit, corporate governance, internal control and consulting in various finance roles for Royal Ahold, PricewaterhouseCoopers, KPMG and Singer and Friedlander Bank Limited.
Commenting on the appointments József Váradi, the Company's Chief Executive Officer said:
"Wizz Air's continuing high growth and geographic diversification creates a requirement to constantly plan for the future scalability and evolution of our core functions. Through these appointments we are enhancing our leadership capacity and capability in our Finance function. The appointments of the Executive Vice President and Group CFO and the Chief Investment Officer allow us to further refine our subsidiary structure, to up our corporate finance activities and at the same time to bring further focus on our aircraft delivery program and associated financing requirements. We are delighted to be welcoming Jourik Hooghe as Wizz Air's Executive Vice President and Group CFO as well as congratulating Iain Wetherall on his new assignment. This new energy and additional capacity in finance will ensure we maintain our ultra-low cost base to become the undisputed cost leader among European airlines while continuing to deliver one of the highest profit margins in the industry."