Capital A Berhad extends CEO’s contract for five years

Investment holding company Capital A Berhad (which owns AirAsia as part of its portfolio) has extended CEO Tony Fernandes’ service contract for the next five years, ‘enabling him to continue his pivotal role at Capital A’. “[Fernandes] has set Capital A on the right strategic path for ongoing value creation, and the Board determined it is in the best interest of the shareholders to extend his tenure through the next five years,” explained independent non-executive director of Capital A Berhad, Dato Fam Lee Ee. Co-founder of AirAsia Tan Sri Tony Fernandes has also been appointed as an advisor to AirAsia’s group chief executive officer by a unanimous board decision. “In his new role Tony will not only provide strategic oversight to AirAsia Aviation Group, including expansion and succession planning, he will also be the key conduit between Capital A and the aviation business ecosystem to ensure all mutual opportunities are leveraged for maximum benefit,” explained Tan Sri Jamaludin Ibrahim, Chairman of AirAsia Aviation Group. “In addition, Tony will continue ongoing dialogue with key stakeholders including tourism and government, lessors, bankers and suppliers including Airbus and GE.”