UK airline IAG’s CEO retiring

London: British airline giant IAG said on Thursday that chief executive Willie Walsh has decided to quit and will be replaced by Luis Gallego, who is currently head of Spanish division Iberia.

"International Airlines Group (IAG) announces that Willie Walsh has decided to retire as chief executive," the British Airways parent company said in a statement, adding he will leave the role on March 26 and retire on June 30. "It has been a privilege to have been instrumental in the creation and development of IAG," Walsh said. "I have had the pleasure of working with many exceptional people over the past 15 years at British Airways and at IAG.

"Luis has been a core member of the team and has shown true leadership over the years and I have no doubt he will be a great CEO of IAG."

The announcement brings down the curtain on Walsh´s 15-year career with the group, during which time he oversaw the 2011 merger of British Airways with Iberia to form IAG -- which has since expanded to include Aer Lingus, Level and Vueling.