UPDATE: Virgin Atlantic Shakes Up Board

Virgin Atlantic Tuesday announced a shake up of its board, which will see Julie Southern take a newly formed Chief Commercial Officer role, and Tim Livett replace her as Chief Financial Officer.

Southern as Chief Commercial Officer will take responsibility for all aspects of growing the airline following one of the toughest economic periods in aviation history.

Southern will now look to drive the airline's recovery, as Virgin Atlantic focuses on growth and development.

She will be responsible for network expansion, trade alliances and driving global revenues through pricing, sales and marketing.

Southern, whose career has spanned 10 years with the airline, will also continue to lead the development of people through the human resources team.

Previously as CFO, Southern was instrumental in reshaping the business and reducing costs during the economic downturn, when demand for travel plummeted.

Before joining Virgin Atlantic Southern worked at Group Finance Director at Porsche Cars, Great Britain. Prior to this she held a number of Finance leadership roles at WH Smith PLC (SMWH.LN).

"This promotion and change of emphasis for Julie will enable Virgin Atlantic to change gear in its recovery from recession," Virgin Atlantic Chief Executive, Steve Ridgway said. "Julie's expertise has enabled the business to steer a course through some very difficult times but now we can utilize her strengths at the front end of the business, driving new relationships, revenues and ultimately our growth strategy."

Replacing Southern as Chief Financial Officer is current Finance Director, Tim Livett.

Southern has overseen Livett's development over the past six years as he has strengthened both the Finance and information technology functions.

Livett will now join Steve Ridgway, Julie Southern and Chief Operating Officer, Steve Griffiths on the main board.

Ridgway said Virgin's philosophy has always been about "broadening our people's experience and promoting talent from within."

Livett joined Virgin Atlantic in 2004 from Hudson Highland Group Inc. (HHGP) where he was European Chief Financial Officer. Prior to this, Livett held a number of senior financial and commercial roles during an eight-year stay at British Airways PLC (BAY.LN). -By Kaveri Niththyananthan, Dow Jones Newswires; 4420 7842 9299; kaveri.niththyananthan@dowjones.com

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