Air New Zealand's new chief executive, Greg Foran, will undertake a 100-day review of the company when he buckles himself into the hot seat on February 3.
Foran is currently wrapping up his job at US retail giant Walmart before spending time with family and friends in New Zealand and Australia and settling his family in Auckland, the company said in an internal email leaked to media.
"When Greg starts, he will undertake a 100-day review of the business to inform his thinking on the future strategic direction of Air New Zealand," the email said.
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"To support this review the executive has already been well engaged with Greg providing insights across their portfolios as well as on the opportunities and challenges facing the airline," it said.
Foran would seek the views initially of 1200 Air New Zealand staff on how to take the airline to another level of performance before then engaging with the wider business to provide all staff the opportunity to have their say, the email said.
"It's the board's expectation that we align on the strategic direction of the business with Greg mid-year, so that we go into the August annual result period able to articulate the aspirations for Air New Zealand in this next exciting phase," it said.
Foran, who grew up in Hamilton and Hastings, first joined Walmart in its international division and has served in a number of roles, including as president and chief executive of Walmart China, before taking on the role of CEO and president of Walmart USA in 2014.
He has been working overseas for the last 25 years.
The company, at its annual meeting in October, said it was targetting earnings before taxation to be in the range of $350 million to $450 million in the current year, based on an average jet fuel price of US$75 per barrel.
That would compare with a June 2019 year earnings before tax of $374 million, which was down from $540m.
Air NZ blamed the decine on higher fuel prices, disruption caused by problems with some of its Rolls Royce engines, and slower demand growth.
The stock last traded at $2.83, having fallen by 6 per cent over the past 12 months.