Qantas Group nominated Vanessa Hudson as its next CEO on Tuesday, succeeding cost-cutting Irish-Australian Alan Joyce, who has been in charge for over 15 years.
Qantas, which celebrated a “huge turnaround” when it returned to profit late last year after suffering massive losses during the Covid-19 outbreak, said that Hudson would take over as CEO and Managing Director when Joyce leaves in November.
Hudson, who has been with Qantas for more than 28 years, will continue in her post as chief financial officer until then, according to the airline firm.
“It’s an absolute honour to be asked to lead the national carrier,” she said in a statement.
“This is an exceptional company full of incredibly talented people and it’s very well positioned for the future.”
Qantas made a profit of Aus$1.43 billion (US$974 million) before tax in the second half of 2022, following three years of losses totaling Aus$7 billion.
Under Joyce, Qantas was strongly chastised by Australia’s transport union for laying off or suspending hundreds of employees in order to keep costs under control during the outbreak.
Customers were reportedly irritated by the airline’s exorbitant charges following the shutdown.
Joyce claimed that the restructuring, which saved Qantas about $1 billion, was critical to the company’s recovery.
Qantas chairman Richard Goyder said the airline group was “extremely well positioned”, with a clear strategy, strong balance sheet and record profitability.
“Much of the credit for the bright future in front of Qantas goes to Alan,” he said.
“He’s faced more than his fair share of challenges,” Goyder added, citing the 2007-2008 global financial crisis, intense competition and the Covid-19 pandemic.
Joyce said he had extended his time as chief executive at the board’s request to steer the airline through the pandemic
“Now that we’re on the other side of that crisis, it’s a logical time for me to step down,” he added.
