Latest news with #Vector
The Hindu
6 hours ago
- Business
- The Hindu
Air New Zealand names Nikhil Ravishankar as new CEO
Air New Zealand on Wednesday (July 30, 2025) appointed Nikhil Ravishankar as its next chief executive officer, following the planned departure of current CEO Greg Foran in October. Mr. Foran, who joined the airline just as the COVID-19 pandemic loomed, announced his resignation earlier this year as the flag carrier continues to grapple with global supply chain disruptions and persistent engine maintenance issues. Mr. Ravishankar, who has served as Air New Zealand's chief digital officer for nearly four years, will assume the top job on October 20. Prior to joining the airline, he held leadership roles at Vector and consulting firm Accenture, where he was managing director. 'Airlines will continue to face immense challenges, whether that's climate change, customer expectations, technology, cost pressures or geopolitics,' said Chair Dame Therese Walsh. 'Nikhil brings a fresh perspective that is grounded in New Zealand values and a deep knowledge of the airline and critical infrastructure across different sectors,' she said. Air New Zealand's struggles have been compounded by a relatively small domestic market and fierce competition from Australian carriers Qantas Airways and Virgin Australia.
Herald Sun
16 hours ago
- Business
- Herald Sun
Air New Zealand appoints Nikhil Ravishankar to replace Greg Foran as CEO
Air New Zealand has promoted its chief digital officer Nikhil Ravishankar as its new chief executive as the board seeks 'a new generation of leadership'. Mr Ravishankar will officially take over the top job from Greg Foran from October 20, four years after joining Air New Zealand from technology company Vector. The airline was Mr Ravishankar's first job in aviation, after an early career spent in telecommunications, tech and on boards including the Auteur influencer network. Air New Zealand chair Dame Therese Walsh said Mr Ravishankar's promotion marked the beginning of the next chapter for the airline, and reflected 'a new generation of leadership for the future'. 'Nikhil brings the mindset and contemporary leadership we need to build on our strong foundations and focus on the future,' said Dame Therese. 'The board undertook an extensive international search and were delighted to see Nikhil come through the process so strongly. His ambition for the airline's future and his people leadership skills, coupled with his pursuit of excellence, digital literacy, global outlook and relationships, and his deep care for the airline and New Zealand shone through.' She said airlines would continue to face 'immense challenges' whether that was 'climate change, customer expectations, technology, cost pressures of geopolitics'. 'Nikhil brings a fresh perspective that is grounded in New Zealand values and a deep knowledge of the airline and critical infrastructure across different sectors,' said Dame Therese. 'He's not afraid to challenge how things are done and ask questions.' Mr Ravishankar said he was 'both thrilled and humbled' to be given the opportunity to lead Air New Zealand, which he described as an 'institution with a deep legacy and a fantastic future'. 'It's a privilege to step into the CEO role and take on that responsibility for our people, our customers, and our country,' said Mr Ravishankar. 'Our airline is among the very best, and I'm excited to help shape what this next stage of Air New Zealand looks like.' Mr Foran will leave in October after a handover to Ravishankar, but as yet the former US Walmart CEO has not revealed his next move. When he joined Air New Zealand in February 2020, Mr Foran faced crisis after crisis, with Covid-related border closures all but shutting down the airline completely within five weeks of his appointment. Since the pandemic, the airline has continued to face challenges, the biggest of which concerned shortages in engine components, resulting in the grounding of up to 11 aircraft. Full year guidance issued in April, indicated Air New Zealand expected to take a substantial hit from the groundings with earnings before tax in the range of NZ$150m and NZ$190m (AU$137m to AU$173m). The 63-year-old said it was entirely his decision to leave, adding the 'board was very keen for him to stay' but he felt he 'had another itch to scratch'. 'I'm not too sure what that would be, but I'm excited, and, you know, I've worked and lived in five different countries now, and enjoy it, enjoy going to work, enjoy difficult challenges and this has been one of those,' he told The Australian in May. His legacy to the airline will be a new cabin layout for the fleet of Boeing 787s, intended to help Air New Zealand remain competitive on trans-Pacific routes. Next year, the carrier will take delivery of two new 787s fitted with the innovative Skynest feature — offering economy passengers the chance of a lie-down on ultra-long-haul flights. The six-bed stack which will replace two middle rows of economy seats, follows the success of the airline's 'Skycouch'. Mr Ravishankar is the second new airline CEO in the region this year, following Virgin Australia's promotion of Dave Emerson this year after the departure of Jayne Hrdlicka. Originally published as Air New Zealand taps insider Nikhil Ravishankar to replace CEO Greg Foran Read related topics: Climate Change
Reuters
a day ago
- Business
- Reuters
Air New Zealand taps digital chief as next CEO to steer firm through challenges
July 30 (Reuters) - Air New Zealand ( opens new tab on Wednesday named Nikhil Ravishankar as its next chief executive, replacing outgoing CEO Greg Foran, as the airline contends with deepening supply chain and engine disruptions that are expected to weigh on earnings through 2025. Foran, who joined the airline just as the COVID-19 pandemic loomed, announced his resignation earlier this year, and would be leaving in October. The flag carrier continues to grapple with global supply chain disruptions and persistent engine maintenance issues. Ravishankar, who has served as Air New Zealand's chief digital officer for nearly four years, will assume the top job on October 20. Prior to joining the airline, he held leadership roles at Vector and consulting firm Accenture (ACN.N), opens new tab, where he was managing director. "Airlines will continue to face immense challenges, whether that's climate change, customer expectations, technology, cost pressures or geopolitics," said Chair Dame Therese Walsh. "Nikhil brings a fresh perspective that is grounded in New Zealand values and a deep knowledge of the airline and critical infrastructure across different sectors." Air New Zealand's struggles have been compounded by a relatively small domestic market and fierce competition from Australian carriers Qantas Airways ( opens new tab and Virgin Australia ( opens new tab. It has also seen delayed plane deliveries and several jets being grounded. Foran, a former Walmart (WMT.N), opens new tab executive, has led the Kiwi flag carrier through a turbulent period, with the airline facing unique hurdles compared to its global peers, partly due to its geographic isolation. The carrier had earlier flagged that up to 11 of its aircraft would remain grounded at times in the second half of fiscal 2025, which would bite into the firm's earnings. The company is also expecting lower earnings in 2025, citing uncertainty around global engine maintenance delays and related compensation levels.
Yahoo
5 days ago
- Business
- Yahoo
AppLovin (APP) Gets $525 Price Target Ahead of Q2 Earnings Beat, Says Analyst
AppLovin Corporation (NASDAQ:APP) is one of the . On July 22, Benchmark analyst Miike Hickey reiterated a 'Buy' rating on the stock with a $525.00 price target. The rating affirmation comes ahead of the company's second-quarter earnings report. Hickey anticipates AppLovin to exceed expectations in its Q2 2025 report, which is due for release on August 6, followed by a conference call. The positive optimism toward the stock is largely due to AppLovin's high-margin Advertising segment, which continues to grow strongly. Its emerging web category is also doing very well. At the same time, Benchmark acknowledges that there may be scrutiny regarding the company's third-quarter guidance. This is largely because Unity has recently launched its AI-powered ad platform, Vector, which is sparking questions regarding competitor dynamics. Regardless of these challenges, the firm is confident in AppLovin's competitive advantages, anticipating significant growth in the second half and beyond. AppLovin Corporation (NASDAQ:APP) provides a leading marketing platform powered by AI technology. While we acknowledge the potential of APP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scoop
6 days ago
- Business
- Scoop
Final Weeks To Register Payment Preferences For 2025 Entrust Dividend
There's just two weeks left for more than 368,000 Aucklanders living in the Entrust District to update their payment preferences to receive this year's dividend. Eligible power account holders get to choose whether they want the dividend paid into their bank account, or as a credit to their power account, says Entrust Chair Denise Lee. 'Back in June we asked power account holders living in our district of central, east, and south Auckland to update their payment preferences for this year's dividend. 'The quickest way to update payment preferences is via Entrust's secure web platform. If everything is the same as last year, do nothing. 'We only want to hear from people if they want to change payment methods, update their bank account details, or if that section is blank. We need updated details from people by 5:00pm on Friday, 08 August,' says Ms Lee. The annual Entrust dividend, usually paid in late September provides a $120m+ cash injection to communities in central, east, and south Auckland. Since 1994, these communities have received more than $2 billion in dividends from Entrust that come from its majority ownership of listed energy company Vector. To be eligible for this year's dividend, you must be a power account holder connected to Vector's electricity network within the Entrust District as of the roll date. 'Entrust is pleased to be able to give back to our community through the dividend. For many people living in our district the dividend is a welcome windfall, and we're delighted to be able to make a small difference,' says Ms Lee. For those unsure about their eligibility for this payment, check out the map and list of eligibility criteria along with FAQs at or About Entrust: Entrust (formerly called the Auckland Energy Consumer Trust), is a private trust that owns the majority of Vector on behalf of its beneficiaries. Entrust owns 75.1% of shares in Vector which are held in trust for energy consumer beneficiaries in central, east, and south Auckland. These beneficiaries are paid a cash dividend each year, usually in late September. The organisation was created in 1993 to make sure power lines remained in the control of electricity consumers and was established under a trust deed on behalf of electricity consumers in the area previously served by the Auckland Electric Power Board.
