01. 04. 2008 - Czech Airlines’ Vice-President for Finance Named the CFO of 2007

Prague, 3 April 2008

Luboš Černý, Vice-President for Finance at Czech Airlines, was elected the CFO of 2007.  The prestigious award was bestowed on Luboš Černý yesterday at Prague’s Grand Hotel Bohemia, by the CFO Club, in recognition of his restructuring of the Airline’s financing, optimisation of the risk management system, and overall revitalisation of the company.

Luboš Černý has been with Czech Airlines since September 2006, as the Vice-President for Finance and a member of the Management Board.  He studied mathematical engineering at the Faculty of Nuclear Sciences and Physical Engineering of the Czech Technical University in Prague (FJFI ČVÚT), and in 1993 he joined the Czech National Bank to work in foreign exchange reserve administration.  From there he transferred to Komerční banka, where he worked for nearly five years in several positions in financial management, treasury, and financial risk management.  Between 1999 and 2001, he led restructuring projects at the Consolidation Bank.  In 2002, he joined eBanka as the CFO and a member of the bank’s Management Board; from 2004, until the successful sale of the bank to the Raiffeisen International Group, he worked as the Managing Director and Chairman of the Management Board.  In the Financial Section of Czech Airlines, he is, as the Vice-President, responsible for financial management, treasury, aircraft acquisition, aircraft fleet management, and divestments.

The CFO Club bestowed its “CFO of the Year” prize for the third year running.  The winner was announced on 2 April 2008 at a gala in the Prague Grand Hotel Bohemia.  The club’s council proposed ten candidates who had distinguished themselves by their outstanding performance in financial management last year.  These included cost cuts, the implementation of an information system, preparation of the company for sale, etc.  Several hundred respondents participated in the vote.
The “CFO of the Year” prize is announced annually by the CFO Club, an association of top-level financial managers, associating major professionals from Czech and Slovak companies, representatives of universities, and other professionals.  The main goal of this civic association is to show appreciation for the work of financial managers, in their extraordinary achievements in financial management, in order to increase the prestige, awareness, and significance of financial management in the success of every company.  The annual prize of the CFO Club was established in 2006, and both previous years met with great interest.  In the first year, Mr. František Lambert from Czech Television received the largest number of votes, and a year later Dušan Baran from Ceska Sporitelna took the prize.


Daniela Hupáková
Communications Director
Czech Airlines Spokesperson