The chairman of Norwegian Air Shuttle will resign his position after a turbulent time at a company.
Bjorn Kise said he made the decision to “make room” for new talent.
Speculation has raged over takeover offers, with British Airways owner IAG ruling out a third bid for the carrier in January after its first two were rejected last year.
Shares have plummeted, losing around half of their value so far this year.
The company’s troubles were further compounded last week when flights with the Boeing 737 Max 8 aeroplane were suspended around the world.
Norwegian, which owns 18 of the planes, said it would seek compensation from Boeing as it was forced to cancel dozens of flights.
The chairman today said he would step down at the company’s shareholder meeting in May.
“The decision to resign from the board of Norwegian is mine. It has not been an easy decision, but after 25 years on the board, many of which as chairman, I am confident that this is the right decision,” Kise said.
“I have now reached and age where it is time to make room for new forces. This is also in line with my discussions with the election committee ahead of the annual general meeting.”