Kiwi highflyer to lead Air NZ
AIR New Zealand has appointed Greg Foran as chief executive to replace Christopher Luxon.
Mr Foran is president and chief executive of Walmart US.
‘‘We are thrilled to have attracted a worldclass Kiwi back home. Greg has an impeccable track record in delivering strong commercial performance, outstanding customer focus and in building teams that can take a business to the next level,’’ Air New Zealand chairwoman Dame Therese Walsh said.
Foran, who is in his late 50s, grew up in Hastings and Hamilton and the airline’s ability to lure him back to New Zealand will be seen as a coup.
He is the father of Kiwi league star Kieran Foran, who said when his father was appointed to the top job at Walmart: ‘‘He’s worked his ass off to try and get in that sort of position and I couldn’t be more over the moon for him.’’
Greg Foran joined Walmart International in 2011, serving in various capacities, including as president and chief executive of Walmart China and then presi dent and chief executive of Walmart Asia, before assuming his current role in 2014 aged 53.
Before joining Walmart, he held positions with Woolworths in Australia and New Zealand.
Last year, he was reportedly paid $US13,466,127 in total compensation, more than four times the remuneration Mr Luxon was paid.
Mr Foran said he was ‘‘privileged’’ to have been given the opportunity to grow an iconic and critical New Zealand company and brand on the global stage.
‘‘I am an incredibly proud Kiwi and to be given the job of nurturing and building on the legacy of an iconic company that represents the best of our nation at home and around the world really excites me,’’ he said.
He said Air New Zealand was deservedly recognised as one of the world’s great airlines and he looked forward to working alongside its people to take it to the next level.
Harbour Asset Management analyst Shane Solly said Mr Foran was a ‘‘worldclass leader.’’
Forsyth Barr analyst Andy Bowley said Mr Foran’s career had been solely retailfocused and he was extremely well regarded.
‘‘He is a handson operator and while he doesn’t have any airline experience, his senior roles at Woolworths and Walmart have demonstrated his capabilities: managing and incentivising a large workforce, creating online and techbased solutions, very customer focused and a long track record of delivering commercial results.’’
The appointment was positive news for Air New Zealand.
‘‘It has been able to attract a heavy hitter with considerable large organisation commercial experience in a number of different markets,’’ Mr Bowley said.
Mr Foran is responsible for the strategic direction and performance of Walmart’s 4600 stores and more than one million staff.
Last year, Walmart US had more than 160 million customers a week and revenues of $US307 billion. It is part of the world’s largest company by revenues, Walmart Inc, which had global revenues of more than $US500 billion last year.
Mr Foran took up his current role in 2014 and led a transformation of the business based around Walmart’s principles of ‘‘Every Day Low Costs and Every Day Low Price’’.
As a result, Walmart US has achieved multiple, consecutive quarters of sales growth over the past several years. — The New Zealand Herald