(Correcting headline as Ian Malin is replacing Jourik Hooghe as chief financial officer.)

Wizz Air Holdings PLC on Monday said Chief Financial Officer Jourik Hooghe plans to step down, whilst Ian Malin will take up the role.

Shares in Wizz Air were down 6.6% to 2,176.24 pence each in London on Monday around midday.

The Budapest-based low-cost airline said that Hooghe will be available during a transition period to the end of December, before he steps down to ‘pursue opportunities outside the company’.

In May, Hooghe was appointed as a non-executive director of Royal Mail PLC.

Malin will join Wizz Air on October 1 to take up the position. It said that he will assume responsibilities for digital development, investor relations, financial planning and controlling, accounting and treasury as a member of the company’s executive team.

Previously, Malin has gained experience at KPMG International Ltd, Allco Finance Group Ltd, Seabury Capital LLC, AJW Group Ltd and Unical Aviation Inc. Wizz Air added that he has a track record in the finance area as a ‘global’ executive.

Chief Executive Jozsef Varadi said: ‘I am delighted to welcome Ian to the company. He joins at an exciting time as Wizz Air drives long term growth based on a deep aircraft order book and ambitious expansion plans in Europe and the Middle East.

‘I would also like to take this opportunity to thank Jourik for his contribution to the company over the past three years, probably the most challenging period for any airline CFO.’

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