On the move

Air France-KLM CFO Riolacci leaves as new CEO joins

Pierre-Francois Riolacci, chief financial officer, Air France-KLM Group, has said he will step down in November. His move comes a week after a new CEO took charge, and leaves the airline scrambling to find a successor amid tensions with French pilots over cost-cutting efforts. Riolacci will become CFO at Danish facilities manager ISS A/S. The executive is departing Europe's biggest airline in the midst of a re-organization that has prompted sometimes violent protests by pilots and other staff and a schism between its French and Dutch arms. Chief Executive Officer Jean-Marc Janaillac, a close ally of French President Francois Hollande with limited airline experience, took over the airline's leadership at the beginning of July. Riolacci will be the second CFO at a major European airline to exit this year, following the resignation of Deutsche Lufthansa AG's Simone Menne to join drugmaker Boehringer Ingelheim GmbH.

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