Avianca CEO Rincon to retire effective April 30
Avianca Holdings announced that Hernan Rincon Lema has notified the Avianca Holdings board of directors that he plans to retire from the company effective April 30, 2019 after three years serving as the company's Chief Executive Officer. Rincon's announcement, which was made upon completion of his third year as Avianca's CEO, is aligned with the company's ongoing long-term strategic and organizational development program, as part of a planned transition, the company said. "Pursuant to our bylaws and Amended & Restated Joint Action Agreement, we have already retained a third-party international consulting firm to assist us in searching for a successor for Mr. Rincon," the company said. "Our board of directors has resolved that, if a successor Chief Executive Officer is not appointed prior to the departure of Mr. Rincon, our Secretary Mr. Renato Covelo, who has been acting as Legal Vice President and General Counsel since December 2016, shall become our interim Chief Executive Officer until a successor has been appointed. In the meantime, Mr. Richard Galindo, who has been acting as Legal Director since February 2017 will become our interim Secretary."