Etihad Airways chief executive James Hogan has cited a lack of time due to other commitments for resigning from the Virgin Australia board.
“Mr Hogan elected to step down due to other commitments that prevent him from being able to devote the time needed for the role,” Virgin said in a statement on Thursday.
“As a result, the appointment of Mr James Rigney as alternate director for Mr Hogan has also ceased.”
Etihad is Virgin’s second largest shareholder with a 24.2 per cent stake. In January, the Abu Dhabi-headquartered carrier forked out $22.2 million to purchase 45.8 million ordinary shares at 48.4 cents per share in an off-market trade.
The airline is one of three airline groups that hold shares in Virgin Australia alongside Air New Zealand (25 per cent) and Singapore Airlines (23 per cent). Sir Richard Branson’s UK-based Virgin Group (10 per cent) is also a major shareholder.
Singapore Airlines chief executive Goh Choon Phong and Air NZ boss Christopher Luxon are currently on the Virgin board.
Virgin said Bruno Matheu, the chief operating officer of Etihad Equity Partners, would replace Hogan as a director.
Ulf Huttmeyer, who will take up his role as senior vice president of finance at Eithad Equity Partners in April, was Matheu’s alternate.
Virgin was due to release its 2014/15 first half results on Thursday morning.
