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Malaysia Airlines (MAS) said on Friday the appointment of Christoph Mueller as its managing director and group chief executive officer had been brought forward to May 1 from July.
The move will allow Mueller to lead the company’s restructuring efforts and allow appropriate time for the transition into Malaysia Airlines Bhd, the new company which will contain the airline’s operations from July 2015.
The current CEO, Ahmad Jauhari Yahya, will step down on April 30 and resume his duties as a non-executive director on the board, said MAS.
The airline will issue termination letters to employees affected by the restructuring on June 1, two months later than the previous date indicated, after obtaining the approval of sovereign fund Khazanah.
Khazanah took MAS private last year, as part of a 6 billion Malaysian ringgit ($1.61 billion) restructuring aimed at returning the carrier to profit within three years.
U.K.-based investment manager Stanhope Capital announced two appointments to address a growing demand for investments in private equity.
The firm promoted Edward Clive, a senior director within its investment research department, to head of private funds. Clive, who has been with Stanhope for five years, has previously served financial advisory group Lazard Ltd.
Stanhope also appointed Jerome Sibony as head of direct investments, who joins from Neo Investment Partners LLP.
London-based Stanhope Capital provides investment management and advisory services to private clients, charities and endowments, and oversees about $9.5 billion in investments.
Insurer ACE Ltd said it appointed Shaun Oliver to the newly created role of head of casualty (energy and construction) for Asia Pacific.
Oliver, who joined ACE in 2005, will be responsible for enhancing product offerings and expanding the company’s portfolio in target industry segments.
He will be based in Melbourne, Australia, and report to Adam Clifford, regional head of casualty, Asia Pacific.
The company also named Stuart Kerr as casualty manager, Australia.
Kerr was previously ACE state manager for Queensland.