Chandran Rama Muthy will be stepping down as CEO of Malindo Air, a position he has held since the formation of the company in 2013.
He will be replaced by Mushafiz Mustafa Bakri, the current director of safety, security and quality at Thai Lion Air.
In an internal memo, Chandran said he would be moving to a newly created role as group strategic director of the Lion Group, where he will develop new businesses and strategic direction.
He described Mushafiz as among the pioneer batch of pilots who helped the company develop manuals, and worked in flight operations management.
Chandran and his wife own a 46 percent stake in Malindo Air, while Indonesia’s Lion Group holds 51 percent.
Unlike chief competitor AirAsia, Malindo Air, as of fiscal year 2018, has not been able to turn a profit.
Malindo Air’s fleet peaked in 2017 at 47. It currently has 41 aircraft.
According to Capa Centre for Aviation, Malindo Air’s market share in 2018 was nine percent, while AirAsia has a commanding lead at 50 percent.