{"id":6760,"date":"2023-09-05T03:22:41","date_gmt":"2023-09-05T03:22:41","guid":{"rendered":"https:\/\/prosfunds.com\/business\/qantas-ceo-to-step-down-early-as-airlines-reputation-under-scrutiny\/"},"modified":"2023-09-05T03:22:42","modified_gmt":"2023-09-05T03:22:42","slug":"qantas-ceo-to-step-down-early-as-airlines-reputation-under-scrutiny","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=6760","title":{"rendered":"Qantas CEO to step down early as airline\u2019s reputation under scrutiny"},"content":{"rendered":"
\n

\n Qantas Airways said on Tuesday that long-serving CEO Alan Joyce would exit the company two months earlier than previously flagged as a reputational turbulence engulfs Australia\u2019s flagship carrier.\n <\/p>\n

\n Joyce\u2019s early retirement will see CEO Designate Vanessa Hudson, the first woman to lead the century-old airline, take charge on Wednesday.\n <\/p>\n

\n The accelerated departure comes after Qantas on Monday apologized for its service standards falling short and acknowledged it was suffering reputational damage, less than two weeks after it reported record annual earnings underpinned by strong travel demand.\n <\/p>\n

\n Australia\u2019s competition regulator last week sued it for allegedly selling tickets for more than 8,000 canceled flights between May and July 2022 without disclosing they had been canceled.\n <\/p>\n

\n The airline had also faced scrutiny from politicians and the public over a decision to let nearly 500 million Australian dollars ($323.00 million) of pandemic-era flight credits expire by the end of the year, which it reversed shortly after the regulator filed its lawsuit.\n <\/p>\n

\n Controversies involving Qantas, including the granting of a premium airport lounge membership to Prime Minister Anthony Albanese\u2019s son and its opposition to Qatar Airways adding additional flights to Australia, have led to many recent newspaper headlines and editorials in the country.\n <\/p>\n

\n The airline\u2019s share price had also taken a battering, falling 13% since the start of August amid questions over whether it had maximized profits at the expense of its longer-term reputation with customers.\n <\/p>\n

\n \u201cIn 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,\u201d said Joyce, who served as the airline\u2019s CEO for 15 years.\n <\/p>\n

\n Chairman Richard Goyder said the executive transition came at a \u201cchallenging time\u201d for the airline and its staff.\n <\/p>\n

\n \u201cWe have an important job to do in restoring the public\u2019s confidence in the kind of company we are, and that\u2019s what the board is focused on, and what the management under Vanessa\u2019s leadership will do,\u201d Goyder said in a statement.\n <\/p>\n

\n Qantas had announced a raft of leadership changes in June in a bid to increase focus on key areas as the airline completes its post-pandemic recovery.\n <\/p>\n

\n The airline said newly appointed Chief Financial Officer Rob Marcolina will also start early alongside Hudson.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Qantas Airways said on Tuesday that long-serving CEO Alan Joyce would exit the company two months earlier than previously flagged as a reputational turbulence engulfs Australia\u2019s flagship carrier. Joyce\u2019s early retirement will see CEO Designate Vanessa Hudson, the first woman to lead the century-old airline, take charge on Wednesday. The accelerated departure comes after Qantas […]<\/p>\n","protected":false},"author":1,"featured_media":6761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-6760","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nQantas CEO to step down early as airline\u2019s reputation under scrutiny | Prosfunds<\/title>\n<meta name=\"description\" content=\"Qantas Airways said on Tuesday that long-serving CEO Alan Joyce would exit the company two months earlier than previously flagged as a reputational\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=6760\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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