March 24, 2017 / 8:10 AM / in 8 months

African budget carrier Fastjet appoints new finance head

March 24 (Reuters) - African budget airline Fastjet Plc said on Friday it had appointed Michael Muller, who has worked in the airlines industry for a decade and held roles at South African Airways, as its next chief financial officer.

The appointment follows the departure of current finance head Lisa Mitchell, who has stepped down but would stay on until April 30 or shortly thereafter, to facilitate an orderly transition.

The company also named Rashid Wally, chair of the audit committee at Mango Airlines, as non-executive chairman, its second appointment from the rival, having last year brought on its then CEO Nico Bezuidenhout for its top job.

Fastjet’s former chairman resigned four months ago, after the carrier said it would seek more funds sooner than expected.

The company has seen a turbulent 2016, facing a cash crunch while being embroiled in a public battle with its second-biggest investor, easyJet founder Stelios Haji-Ioannou, over its policies and board structure.

It has also had to cut costs after struggling against tough conditions in its home market, Tanzania. (Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)

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