CEO of IAADFS steps down
By Miona MadsenThe International Association of Airport and Duty Free Stores (IAADFS) has announced that its president and CEO, Michael Payne, will step down from his position.

Chairman Rene Riedi made the announcement yesterday (11 August).
According to Riedi, Payne will remain a chief advisor to the board, focusing on advocacy, governance, and programme content. However, Payne will gradually step back from daily operational tasks, including membership services, budget management, and related areas.
Riedi stated: “As we go through some of our scheduled strategic changes and redefining our scope as an organisation, we want to be able to take advantage of his knowledge and relationships and are pleased to have his continued involvement and support.
“We plan to have Michael actively participating in Cannes to focus on his areas of responsibility and help promote the next summit.”
During the transition, Steven Antolick, who was promoted to executive director in 2023, will continue to manage the operational requirements of the association. These include membership development, budget management, and the planning of summit meetings.
Riedi explained: “This activity will be handled through our management firm contract with Smithbucklin, where Steven is employed. Steven’s knowledge of and history with IAADFS will be extremely valuable as we move forward.”
Payne has served as president and CEO of IAADFS, a duty-free and travel retail association that represents concession operators and suppliers primarily located in the Americas and the Caribbean, since 2016.
Payne commented on his departure: “I feel this is a really good solution as we go through this transition period. This conversation started back before COVID, which of course changed everything, and it clearly wasn’t a good time to make any major staff adjustments.
“We now have an energised board with a number of new members from both the supplier and operator side who have an appreciation and understanding of what changes need to be made to better serve our members and reflect the rapidly changing nature of our industry. It’s a perfect time for new leadership and new thinking.”
Payne added: “I’m grateful for the opportunity to stay involved but recognise it’s time to welcome a fresh approach.”
The news of Payne’s departure follows the organisation’s appointment of two new board members earlier this year.
Related news
Money and safety concerns stop young people going out