Norwegian Air co-founder and CEO Bjørn Kjos, 72, is to leave the CEO position and continue in a new role as an advisor to the firm’s chairman, with effect from July 11th.

Until Norwegian appoints a new CEO, its CFO Geir Karlsen, 54, will act as interim CEO, while chairman Niels Smedegaard, 57, will take on a more active role in the management.

Smedegaard said: “I am very pleased Bjørn will remain at the company as an advisor to the board and the chair.

“As Norwegian moves from growth to profitability, it will be an advantage for the company to benefit from Bjørn’s extensive network, in-depth knowledge of and experience with global aviation.

“We have already started the process of recruiting a permanent new CEO.”

Kjos said: “I am confident that the board of directors will find the best qualified successor to lead the next chapters of the Norwegian story together with the top management team.

“Leaving the exciting future tasks to a new CEO and taking on a new challenge as an advisor, is a set-up I am very happy with.

“I look forward to spending more time working on specific strategic projects that are crucial to the future success of Norwegian.”