Norwegian Air fires CEO in 'surprise' move after restructuring

Oslo: Norwegian Air has sacked Chief Executive Jacob Schram who led the budget carrier through restructuring and said it was promoting Chief Financial Officer Geir Karlsen to the top job with immediate effect.

The board voted on June 20 to end Schram's 18-month tenure but the airline said he would support the carrier on a full-time basis during his notice period up to March 31. "The board's decision to fire me came as a big surprise," Schram told Reuters.