Finance director takes up new role after bailing out at stalled airline

Philip de Klerk, chief financial officer at airline Flybe, has resigned to take up the position of CFO at AIM-traded performance materials manufacturer Low & Bonar.

The London-listed firm said de Klerk is to remain as CFO of Flybe until 1 October 2017.

A process to appoint his successor had commenced, the board added.

Mr De Klerk joined Flybe in August 2014 from SABMiller, where he was global head of financial planning and analysis. He also spent 16 years at Unilever in a variety of finance roles.

“The Flybe board wishes Philip well for the future and also thanks him for his major contribution over the last three years,” it said in a statement.

The Exeter-based Flybe said last month that a squeeze on fares, combined with strikes, cancellations and poor weather, was expected to push the group to a loss.

The airline said it will issue its 2017 full year results on 8 June.

Martin Flower, chairman of Low & Bonar, said de Klerk was bringing commercial as well as financial expertise and “substantial experience” of international manufacturing businesses.

“We are confident that he will bring these capabilities to benefit Low & Bonar as we continue to drive our strategy of growth and stringent portfolio management across our global end markets,” Flower commented.

“We look forward to working with him.”