Qantas’ outgoing boss, Alan Joyce has announced he will leave the airline ahead of his expected departure later this year.
Qantas announced on Tuesday morning that Joyce has advised the airline’s board he will bring forward his retirement by two months to help the company accelerate its renewal.
As a result, Vanessa Hudson will assume the role of managing director and group CEO, effective on September 6, 2023.
“In the last few weeks, the focus on Qantas and events of the past make it clear to me that the company needs to move ahead with its renewal as a priority,” Joyce said.
“The best thing I can do under these circumstances is to bring forward my retirement and hand over to Vanessa and the new management team now, knowing they will do an excellent job.”
It follows a tumultuous week for Qantas, with Joyce last Monday facing a fierce grilling from a Senate inquiry, before the ACCC launched its case against the airline on Thursday, alleging the airline sold tickets for flights that had already been cancelled.
Joyce pocketed more than $10 million in shares for meeting the airline’s COVID-19 recovery goals, after announcing a $2.7 billion profit.
More to come
The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.
Source: Thanks smh.com