Qantas Group CEO Alan Joyce has advised the Board he will bring forward his retirement by two months to help the company accelerate its renewal.
As a result, CEO Designate Vanessa Hudson will assume the role of Managing Director and Group CEO effective 6 September 2023.
Alan Joyce said: “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.
“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.
“There is a lot I am proud of over my 22 years at Qantas, including the past 15 years as CEO. There have been many ups and downs, and there is clearly much work still to be done, especially to make sure we always deliver for our customers. But I leave knowing that the company is fundamentally strong and has a bright future,” Mr Joyce said.
Qantas Chairman Richard Goyder said: “Alan has always had the best interests of Qantas front and centre, and today shows that. 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.
“This transition comes at what is obviously a challenging time for Qantas and its people. 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,” added Mr Goyder.
As planned, shareholders will formally vote on the appointment of Vanessa Hudson as Managing Director at Qantas’ Annual General Meeting in November.
Today’s announcement means one of the executive changes announced in June this year will also be accelerated, namely the appointment of Rob Marcolina as the Group’s Chief Financial Officer in-line with current CFO, Vanessa Hudson’s, transition to the Group CEO role.