Air New Zealand names Greg Foran as new CEO

The current boss of Walmart in the US has been announced as the new chief executive officer at Air New Zealand.

Greg Foran is replacing Christopher Luxon, who announced he was stepping down from the role in July and is now attempting to launch a political career with the National Party.

As the current president and CEO of Walmart US, Aotearoa-born Foran is in charge of the company's 4600 stores and more than 1 million staff.

Last year, Walmart Inc had global revenues of more than US$500 billion.

As the new Air NZ boss, Foran faces challenges such as increasing fuel costs and a softening tourism market.

Nonetheless, he says he's looking forward to taking the company "to the next level".

"I am an incredibly proud Kiwi and to be given the job of nurturing and building on the legacy of an iconic company that represents the best of our nation at home and around the world really excites me," says Foran.

"I want Air NZ to continue to be at the forefront of its industry across the world and to deliver strong commercial results in the process.

"It is bittersweet to leave Walmart, but this incredible opportunity to lead an iconic Kiwi brand was one I could not pass up."

Air NZ says Foran will take up the position of Air NZ CEO in "the first quarter of 2020", after he leaves his position at Walmart on January 31.

John Furner will step in at Walmart in his place.