Air New Zealand on Tuesday said former head of Unilever Canada Christopher Luxon would take over as the flag carrier's new chief executive at the end of the year.
Luxon, a New Zealander who joined the airline last year as head of its international operations after almost two decades at the Anglo-Dutch food and cosmetics giant, will replace the outgoing chief executive Rob Fyfe.
"I will take over an airline that has significant financial strength, some incredibly exciting commercial opportunities and 11,000 Air New Zealanders who are committed to being world class in everything they do," Luxon said in a statement.
Air New Zealand, which announced a 61.2 percent slump in interim profits in February, is in the midst of a cost-cutting programme which will slash more than 400 jobs and deliver savings of NZ$195 million ($154.5 million) by 2015.
The airline is 76 percent state owned, although the government has flagged its intention to reduce its stake to just over 50 percent during its current term to help rein in a budget deficit.