CEO Alan Joyce is stepping down after the ACCC launched action against Qantas in the Australian Federal Court, alleging the airline participated in false, misleading conduct.
The move occurred when the brand must repair its image, which naming its first Female CEO, Vanessa Hudson, might not even impact.
According to ACCC charges, Qantas continued selling tickets for canceled flights, causing undue stress and worry for many Australians.
Combined with the company making record-breaking profits of $1.74bn for 2023 FY and shares soaring by as much as 0.5% after results were released, Qantas had to make some changes to attempt to repair its image.
Additionally, pressure hit a crescendo when Joyce was raked over the coals by a parliamentary committee due to Qantas’s record profits during a inflation crisis.
Due to cost and position cutting, Joyce did not endear himself to unions, customers, or even his workforce, which was never more evident than last year when his Sydney home was reportedly pelted with eggs and toilet paper.
“Joyce’s departure is welcome news for workers,” said Transport Workers Union National Secretary Michael Kaine.
“In fact, it’s the first good decision the Qantas board has made for a very long time. Joyce is slipping into retirement two months early, leaving one of the biggest messes in corporate Australia’s history in his wake.”
Even with the 1 million cut-price fares and a donation of 1 billion loyalty points to frequent flyers, Joyce could not outrun the company’s missteps.
“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 said.
The new Qantas CEO Vanessa Hudson will step into her role on Wednesday.
