AMSTERDAM (Reuters) – Pieter Elbers, the chief executive of KLM, the Dutch arm of Air France-KLM, will not serve a third term, the company said on Thursday.

Elbers, 51, is a 30-year veteran of the company who oversaw restructurings at KLM before and during the coronavirus pandemic. The company said he will step down as of May 1, 2023.

In a statement, Elbers said he was proud of his time and the company and would continue to “support KLM in this transition toward new leadership.”

In a statement, Air France CEO Ben Smith and Chairwoman Anne-Marie Couderc thanked Elbers for his service.

(Reporting by Toby Sterling; Editing by Susan Fenton)