Cobalt fires CEO Madar after 22 months in office

The board of directors of Cobalt Air appointed Guy MacLean as the airline’s chief executive officers, replacing Andrew Madar, two sources familiar with the matter said.

Madar took over as the company’s top executive after the resignation of his predecessor Andrew Pyne in August 2016, two months after the company received its commercial licence. The reasons for the divorce are unknown.

The company was not immediately available for comment.

The Cyprus Business Mail understands that the changes in the company’s management went beyond Madar.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.