Longtime IAG CEO Willie Walsh Retiring, Iberia Chief Named Replacement

International Airlines Group (IAG) announced Thursday that longtime CEO Willie Walsh is retiring.

According to The Associated Press, IAG officials revealed Spanish airline Iberia CEO Luis Gallego would replace Walsh. IAG is the parent company for both Iberia and British Airways.

The changes come as the airline group has continued its international expansion, reaching an agreement to purchase Spanish rival Air Europa for $1.1 billion in September.