Haim Romano, El Al's CEO to step down

El Al's chief executive will resign within 18 months after about five years in the job
 
El Al's chief executive Haim Romano, 55, will resign within 18 months after about five years in the job, the airline said last Sunday.
 
A replacement for Romano has not yet been decided, Israel's flag carrier said in a statement. It did not provide further details.
 
Media reports here said that Romano had faced ongoing tension from the carrier's labor unions regarding his proposals to cut wages to help improve El Al's finances.
 
During his tenure at El Al, Romano, 55, implemented the "El Al 2010" strategic plan. The plan's goal is to boost sales and improve profit margins by lowering the age of the airline's fleet.
 
The plan also includes upgrading business class to increase the airline's market share among business and other premium passengers, as well as greatly increasing direct ticket sales via the airline's website and call center.