Virgin’s Velocity frequent flyer to get chief financial officer

“Sterling’s extensive experience in loyalty, finance and strategy will be of tremendous value to the group as we continue to build one of the world’s leading loyalty programs,” Virgin chief executive John Borghetti said.

Borghetti said Velocity had doubled its membership numbers to 4.8 million over the past five years and was now moving into its next phase of growth.

Velocity is also on the lookout for a new chief executive, with Neil Thompson announcing in February he would step down after two and a half years in the job once a replacement was found.

Virgin recently sold 35 per cent of Velocity to Affinity Equity Partners for $336 million.