Outgoing Qantas CEO Alan Joyce.
Qantas Group CEO Alan Joyce has announced he will step down from his role two months earlier than planned, after the carrier came under mounting political and regulatory pressure in recent weeks.
Joyce had previously intended to retire as chief executive after the Australian carrier’s annual general meeting in November. However, on Sept. 5 he announced he would bring forward his retirement to “help the company accelerate its renewal.”
This means CEO-designate Vanessa Hudson will take over from Joyce as Group CEO and managing director effective Sept. 6. Hudson, who is currently the Qantas CFO, was selected as Joyce’s replacement in May. However, the board must still formally vote on the managing director appointment at the annual meeting.
Negative publicity has reached a crescendo for the flag-carrier on several fronts. Joyce testified at an Australian Senate hearing on Aug. 28, where he was subjected to hostile questioning by lawmakers over a backlog of unclaimed flight refunds and other issues.
Then on Aug. 31, the Australian Competition and Consumer Commission (ACCC) filed a case against Qantas with the Federal Court of Australia. The ACCC alleges Qantas kept selling tickets for canceled flights between May and July 2022.
“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 says. “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.”
“Alan has always had the best interests of Qantas front and center, and [his early retirement decision] shows that,” Qantas Chairman Richard Goyder says. “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.”
Goyder says the leadership transition comes at a challenging time for Qantas. “We have an important job to do in restoring the public’s confidence in the kind of company we are, and that’s what the board is focused on, and what the management under Vanessa’s leadership will do,” he says.
Hudson’s promotion also means Rob Marcolina will take over as Qantas Group CFO earlier than expected.
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