Comair said on Wednesday it has appointed its former finance chief Glenn Orsmond and Wrenelle Stander, an executive director, as joint chief executives to replace Erik Venter who resigned.
The airline said last week that Venter had stepped down, citing personal reasons.
The appointment of the two CEOs, who will take up their roles on July 31, comes as the company implements a diversification strategy initiated by Venter during his 23-year term.
"Because we're diversifying away from the airline business it makes sense to have two CEOs; one CEO that focuses on the core airline business and one CEO that focuses on the non-airline business," the company told Reuters.
Alongside the airline business, which accounts for about 30% of Comair's profit, the company also operates airport lounges and a catering service, sells travel and holiday packages and runs an air and cabin crew training centre.
Orsmond left Comair in 2003, rejoining the company after working at NVest Financial Holdings.
"The Board congratulates Ms Stander and Mr Orsmond on their appointment and looks forward to their contribution to the Company going forward," Comair said in a statement.