Alan Joyce to depart Qantas early
Qantas chief executive Alan Joyce will depart the airline on Wednesday, bringing forward his retirement by two months amid a firestorm engulfing the company over allegations of illegal ticket sales and undue influence over government.
Mr Joyce advised the Qantas board he would bring forward his retirement “to help the company accelerate its renewal”, claiming he was leaving the company “fundamentally strong” and with a “bright future”.
Qantas chief executive Alan Joyce giving evidence to the Senate inquiry last week. Eamon Gallagher
Qantas shares have sunk more than 12 per cent over the past month, as investors weigh the impact of a $15 billion capital expenditure bill that his successor, Vanessa Hudson, will inherit, as well as potential fines of as much as $250 million being pursued by the competition watchdog.
CEO designate and current chief financial officer Ms Hudson will step up to the top job on Wednesday.
“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,” Mr Joyce said in a statement.
“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.”
Qantas chairman Richard Goyder said: “Alan has always had the best interests of Qantas front and centre”, proven by his decision to leave early. He said his last legacy would be the ultra-long-haul Project Sunrise flights that were set to launch at the end of 2025.
“On behalf of the board, we sincerely thank him for his leadership through some enormous challenges and for thinking well ahead on opportunities like ultra-long-haul travel,” Mr Goyder
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