Iberia chief executive Rafael Sanchez-Lozano has resigned "by mutual agreement".
International Airlines Group (IAG), parent of the Spanish airline, said he will step down with immediate effect.
He will be replaced by Luis Gallego, currently chief executive of Iberia’s subsidiary Iberia Express.
Luis has joined the Iberia and IAG boards.
IAG chief executive Willie Walsh thanked Sanchez-Lozano for his hard work and commitment.
"He has led the airline through a very difficult period in the midst of a deep recession and has completed the first important step towards returning the airline to profitability," he said.
“Luis Gallego has extensive experience across a range of international airlines….Iberia is entering its next transition phase and I have every confidence that Luis can return Iberia to profitable growth”.
S-¡nchez-Lozano said: “I have been proud to lead Iberia for over three years. It has been a privilege to work for such a great company. After reaching agreement with the mediator and the majority of our unions, we have achieved an important milestone as we restructure the airline. The company is now entering a new phase and it is time for me to pass on the baton to my successor.”
Iberia has recently been hit by a series of strikes in a dispute over cost-cutting measures by IAG.
Following two five-day walk-outs in February and March, IAG agreed to reduce the number of planned layoffs from 3,807 to 3,141 and has promised better redundancy terms.
