Cargolux CEO Dirk Reich to step down

Multiple European media sources, including Tageblatt and Radio 100.7 out of Luxembourg, have reported that Dirk Reich, CEO of Cargolux, has decided to leave the company. The reports from Wednesday are based on information from two “well informed” sources, who had apparently spoken to the radio station.

Air Cargo Eye has also reported that Richard Forson, the carrier’s current CFO, is expected to succeed Reich. Forson served as interim CEO prior to Reich’s hiring in March 2014. Cargolux is expected to make a statement at a press conference this morning, but so far, the all-cargo airline has not made a statement. Cargolux is also expected to announce the replacement CFO at the scheduled press conference.

The lack of official confirmation has not stopped others from speculating over the news. According to Radio 100.7, Reich is stepping down for “personal reasons.”

Earlier this year, Air Cargo Eye reported that individuals close to the Cargolux China venture were warning of a “commercial calamity.” Reich also faced labor confrontation over the development of Cargolux Italia. The website also reported that Reich had lost the backing of Luxembourg’s minister of transportation and shareholders of the airline.