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Joyce has led the company since 2008. The longer Qantas’ board takes to decide on a successor, the less time he will have to put his own stamp on the company’s strategy before an investor presentation.
“He’s done a great job for investors, but he’s also been criticized by consumers for contributing to poor service standards,” Gursky said.
This is the second major succession plan to be worked out by Qantas Chairman Richard Goyder, who also chairs the AFL Board of Directors, which has been in over 12 months of resigning as CEO. I’ve spent a lot of time looking for a replacement for Gil MacLachlan.
last month, financial review First reported, Qantas contracted leadership advisory firm Russell Reynolds to develop criteria for Joyce’s succession, with Hudson and Worth being the frontrunners.
Mr. Hudson joined Qantas in 1994 and became Chief Commercial Officer before being promoted to CFO in 2018. Managing her career’s balance sheet during the COVID-19 period and her recent return to profitability after experiencing losses totaling nearly $7 billion in the last two fiscal years has given her will work to your advantage.
Meanwhile, Mr. Wirth first joined the carrier in 2009 and has led key customer, public relations and loyalty functions. She, like Hudson, has no experience running an airline, but Qantas’ most profitable segment, loyalty, has made progress toward ambitious revenue targets over the past few years. Confirmed.
tight race
Gursky said neither candidate’s background is enough to say who he thinks should take the job, but he said the “sometimes conflicting” goals of securing shareholder returns were the most important. He said it would depend on who the board thought could be managed well. while maintaining service standards.
“It comes down to the specific characteristics of the individual. They want someone who can navigate these dual objectives,” he said.
Sondar Benson, an analyst at Pendal Group, one of Qantas’ largest individual shareholders, has confirmed that Qantas is planning a strategic date next month, but will not announce a successor until August. We thought that we would have to wait until the full-year results. “It can create confusion on strategy day… I don’t think they want to cover it up,” he said.
Asked last month about his plans for Qantas, Joyce said he would stay there “at least until the end of the year.” His preference was an in-house successor, he added.
“My decision has not changed,” Joyce said at the time. “I will be here at least until the end of the year. I have always said that my last job is to secure a successor within the company.”
At a gala dinner held earlier this month to celebrate the airline’s 100th anniversary, Joyce said she expects the board to appoint a woman to the top position for the first time.
“Some airlines say women will never run airlines. One day women will run Qantas,” he said.
Qantas declined to comment.
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