Tewolde GebreMariam, CEO of Ethiopian Airlines, has decided to leave the company to attend to personal issues related to his health.
Tewolde has been undergoing medical treatment in the United States for the past six months. As he needs to focus on his personal health issues, he is unable to continue
as Group CEO, a duty that requires a closer presence and full 24-hour attention.
Consequently, Tewolde requested the Board of Directors of Ethiopian Airlines Group to take early retirement in order to devote his full attention to his medical treatment.
The Board, at its regular meeting held on Wednesday, March 23, 2022, has accepted Tewolde’s request.
Tewolde’s track record between 2011 and 2022
Tewolde assumed his position in 2011, and led the company with remarkable success, transforming it into a global case study.
During his tenure the fleet grew from 33 aircraft to 130; ordering ten Boeing 777 (F), 23 DHC 8-400 NextGeneration, 31 Boeing 737 MAX, four Boeing 777-300ERs, and several additional Boeing 787 Dreamliners. It thus became the first African airline to exceed 100 aircraft in its fleet.
From an annual turnover of close to USD 1 billion, it raised it to more than USD 4.5 billion. Between 2013 and 2014, Ethiopian Airlines was ranked the most profitable airline in Africa and 18th in the world with a profit of USD 228 million.
In the process, it grew from carrying 3 million passengers to 12 million pre-COVID-19, opening new markets in Africa, North America, Europe, Asia, the Middle East, and landing in South America (Brazil and Argentina).
Under his leadership, the airline group has grown fourfold in all metrics, building vital infrastructure worth more than $700 million, such as the cargo terminal, hangars, maintenance workshops, the Aviation Academy, and flight simulators.
In 2013, he initiated a series of agreements with several African governments to set up their own national airlines, including Malawian Airlines (2013), Tchadia Airlines (2018), Zambia Airways (2022), Ethiopian Mozambique Airlines (2018-2022), and Ghana Airways (2023).
During his tenure, Tewolde went through two delicate moments in the airline industry. In 2019, flight 302 operated on a Boeing 737 MAX crashed after takeoff from Addis Ababa. Subsequently, in 2020, the COVID 19 health crisis.
Board decision and new CEO
The Board of Directors, senior management, employees, and the entire Ethiopian Airlines family expressed their appreciation for his contribution to Ethiopian Airlines.
The Board of Directors will shortly announce the new Group CEO and successor to Ato Tewolde GebreMariam. Girma Wake, the former CEO of Ethiopian Airlines, has recently been appointed as the new Chairman of the Board of Directors of Ethiopian Airlines by the Ethiopian Public Enterprises Holding & Administration Agency.
Girma Wake is a highly experienced, successful, and well-regarded business leader
and a well-known figure in the aviation industry. He has previously led Ethiopian Airlines for 7 years as CEO and laid the foundation for the airline’s rapid and profitable growth.
