Gunning will take over from Enrique Dupuy de Lome, who will stand down at the group’s annual general meeting in June.
Dupuy has held the CFO role at IAG since the group was founded in January 2011.
Gunning will assume the CFO title and will also be nominated at the AGM for the executive director role on the IAG board vacated by Dupuy.
IAG chief executive Willie Walsh said: “Enrique has done a fantastic job at IAG. He played a critical role in establishing the group and was a major force in delivering our strong financial performance.
“It’s been a pleasure to work with him and I’d like to thank him for all his hard work in putting IAG on the map. He leaves with all our best wishes for the future. I’d like to welcome Steve to his new role. His appointment serves as evidence of the strength and depth of the IAG leadership team.”
Previous to IAG, Dupuy served as Iberia CFO from 1990 and has worked in various other financial roles.
He was chairman of Iata’s finance committee 2003-2005 and was appointed to the IAG board in 2013.
“After eight years as CFO of IAG and prior to that, 20 years as CFO of Iberia, I believe now is the right time for me to leave IAG,” said Dupuy.
“I’m proud of my part in creating and developing IAG. I’m delighted Steve is taking over as CFO. We have worked together for a number of years and I wish him well in his new role.”
Gunning was appointed CFO at BA in January 2016 and has been acting director of IAG Global Business Services since December 2017.
Prior to these roles, he was chief executive of IAG Cargo from 2011 having initially joined BA in 1998.
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