12 Dec 2013 12:30
Etihad Airways’ James Rigney was last night named the Middle East Chief Financial Officer of the Year by the Institute of Chartered Accountants of England and Wales (ICAEW), the world’s leading professional membership organisation for the accountancy and finance profession.
accolade was announced at the ICAEW’s Middle East Accountancy and Finance
Excellence Awards, staged at the Ritz Carlton in Abu Dhabi.
The CFO of the
Year Award is open to finance professionals who have consistently complemented
and supported the CEO’s and board’s vision and strategy, contributed to
financial growth during the year and shown commitment to increasing shareholder
Mr Rigney won the
award after a year in which Etihad Airways delivered US$ 4.8 billion in
revenues and tripled net profits, to US$ 42 million, in only the ninth year of
operation. The airline now has a portfolio of more than 60 national and
international financial institutions, providing more than US$ 7 billion in
financing. In the last 12 months, it has taken minority equity stakes in Air
Serbia, Jet Airways and Darwin Airline, adding to previous investments in
airberlin, Air Seychelles, Aer Lingus and Virgin Australia.
President and Chief Executive Officer of Etihad Airways, said: “This is
outstanding recognition of the work of James Rigney, his team at Etihad
Airways, the Abu Dhabi Accountability Authority, and many others.
works to a commercial mandate and that means we need a highly professional
team, able to deliver consistently across the full range of our financial and
governance functions. This award, a pinnacle within the accountancy industry,
shows that we have that.”
added: “I am honoured to accept the ICAEW Middle East CFO of the Year award on
behalf of the much wider team, within Etihad Airways, the Abu Dhabi Government
and our financial advisors, particularly PwC and KPMG, who have helped us
deliver over the seven years and in particular, over the last 12 months.
“As we look ahead,
we know that we must redouble our efforts, as Etihad Airways and its partners
enter a period of even greater growth.”
Last month, Etihad
Airways announced orders for up to 199 aircraft and 294 engines, worth $67
billion at list prices, to support its strategic growth plan for the next decade.
ICAEW is a world
leading professional membership organisation that promotes, develops and
supports over 140,000 chartered accountants worldwide. It provides
qualifications and professional development, shares knowledge, insight and
technical expertise, and protects the quality and integrity of the accountancy
and finance profession. The Middle East Accountancy and Finance Excellence
Awards were launched in 2011.