FRANKFURT—After 17 years as CEO of Norwegian Air Shuttle, and as the airline fights to achieve its financial turnaround, Bjoern Kjos has decided to step down—effective immediately—handing over responsibility to new Acting CEO Geir Karlsen, previously CFO and Deputy CEO. “I’m not sorry [to go],” Kjos said at a July 11 press briefing. “I am way overdue. You should not run an airline when you are past 70 [years old],” he added. Kjos is 72 years ...

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