eDreams Odigeo opens new chapter with CEO switch

Following a rocky few months at eDreams Odigeo, a boardroom shuffle which sees the appointment of Dana Dunne as chief executive, is perhaps a sign the company is back on track.

Dunne has been with the online travel agency since 2012 as chief operating officer and now replaces chairman and CEO Javier Perez-Tenessa who steps down after 15 years with the company.

eDreams Odigeo had a challenging 2014 with the OTA announcing its intention to list on the Madrid Stock Exchange in the Spring but shares fell by 60% in the months that ensued.

A profit loss announced shortly after listing was a contributing factor while the company also blamed a Google algorithm update.

Then in October trading was suspended following a sharp decline in share price after a dispute with British Airways and Iberia saw the carriers threaten to pull their inventory from a number of brands in the eDreams Odigeo stable.

Shares resumed trading a few days later with the dispute with the airlines seemingly settled although full disclosure of the issues was not made.

Now, almost a year after the IPO was announced, Dunne will take the helm although Perez-Tenessa, also a founder of eDreams, stays on as honorary chairman.

Prior to joining edreams Dunne held a number of senior roles including chief commercial officer of easyJet and before that CEO of AOL Europe.

In a statement, Dunne acknowledged recent challenges and said his priority was to get the business “performing to its full potential.”

Philip Wolf, founder and former CEO of Phocuswright, who joined the eDreams board as an independent director in April 2014 now becomes  non-executive chairman.

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About the Writer :: Linda Fox

Linda worked at tnooz from September 2011 to June 2018 in roles including senior reporter, deputy editor and managing editor.

 

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  1. Timothy O'Neil-Dunne

    Let’s hope this rights the ship for them.

     
 
 

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