Capital A Berhad, the premier aviation and travel services conglomerate, announced today that its CEO, Tony Fernandes, has agreed to a new five-year service contract. This agreement allows him to continue his crucial leadership role, focusing on the future growth and financial performance of the Group.
The Board of Directors at Capital A has approved an incentive package for Fernandes, tailored to align his interests with those of the shareholders and to foster a mutual commitment to the long-term prosperity and sustainability of Capital A. His responsibilities include guiding the company to enhance shareholder value by managing profitable ventures across its various entities. The details of this incentive package will be shared with shareholders for approval at the forthcoming extraordinary general meeting.
Dato Fam Lee Ee, Independent Non-Executive Director of Capital A Berhad said, “Time and again, Tony has shown an unparalleled ability to successfully transform Capital A to drive growth and deliver financial returns, earning him a reputation as one of the world’s outstanding CEOs. He 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. We are confident that, under his guidance, we will achieve even greater milestones in the years ahead.”
Tony Fernandes, CEO of Capital A said, “I am excited to embark on the journey of completing the full transformation of Capital A, poised to deliver tremendous value to its shareholders following the imminent disposal of its aviation business. Over the next two years, investors and shareholders will witness the rise of four strong pillars of business, born out of the AirAsia Group. All these businesses excite me, each set to become a free-standing entity with its own robust capital structure. Throughout the next five years, I envision Teleport, MOVE Digital, Capital A Aviation Services Group (CAPAS) and Capital A International evolving into separately listed public companies, which share the fundamental DNA of AirAsia— characterised by low-cost, high efficiency, and a relentless commitment to being independent and resilient market disruptors.”
Tony Fernandes is celebrated as one of the industry’s most transformative leaders. With his visionary approach, he has broadened the scope of Capital A and the wider AirAsia Group through embracing innovation, disruption, and strategic acquisitions, propelling the company to new heights of success. As the architect behind democratizing air travel in Asia, Fernandes has guided the company towards becoming a leading global aviation and travel services group. At 59, this entrepreneur has played a pivotal role in shaping both the company and the industry within the ASEAN region. Capital A anticipates continued growth and achieving even greater successes under his skilled leadership.
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