Gol, a leader in Brazilian domestic air travel, announced that chief executive officer Paulo Kakinoff will step down next month after ten years in the job. Celso Ferrer Jr., the current chief operating officer, will replace Mr. Kakinoff. The company’s CEO succession plan has been in place for the past three years.
The outgoing CEO will reportedly take a sabbatical but will keep his seat on the board of six companies, Gol included.
The appointment of 39-year-old Mr. Ferrer comes less than a week after Gol announced a deal with Colombian airline Avianca. They will both operate under the same parent company, to be based in the United Kingdom.
The deal needs to pass through the scrutiny of regulators, such as Brazil’s antitrust watchdog Cade. The holding company will be set up in the United Kingdom and the deal is expected to be concluded in the second half of this year.