EtihadAviation Group president and chief executive James Hogan will step down from the company in the second half of the year, as the airline continues a major strategic review.

In a statement,Etihadsays thatHogan’s “transition process” started last year with the formation of the Group. He will join an unnamed investment company, together with the group's chief financial officer James Rigney, who will also leave the firm later this year.

A search for a new chief executive and chief financial officer is underway.

Chairman Mohamad Mubarak Dadhel Fadhel Al Mazrouei paid tribute to Hogan’s ten years, initially as chief executive ofEtihad Airways, and later as the president and chief executive of the wider Group.

“In just ten years, he has overseen the growth of the company from a 22 plane regional carrier into a 120 aircraft global airline and aviation group, with seven airline equity partnerships which together serve more than 120 million guests every year,” he said.

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Mazouri adds that Etihad’s board and management are continuing to conduct a company-wide strategic review.

“We must ensure that the airline is the right size and the right shape. We must continue to improve cost efficiency, productivity and revenue. We must progress and adjust our airline equity partnerships even as we remain committed to the strategy,” he says.

Speculation about Hogan’s long-term future atEtihadhas been swirling in recent months, as the Abu Dhabi aviation group sought to restructure a number of the airlines it has invested in.

That has seenEtihadannounce plans to start a new European joint venture leisure airline group with TUI, and also concluding a major wet-lease deal betweenAir BerlinandLufthansagroup.