Qantas Group announced this morning that its CEO Alan Joyce, who has served for 15 years, will step down from his role in November this year. He will be succeeded by another staunch Qantas employee, Vanessa Hudson, currently the airline’s Chief Financial Officer and a senior executive at Australia’s national airline for 28 years.
While Joyce’s departure or replacement has been talked about for years, and usually comes up in times of crisis, this is the first time Qantas has confirmed the succession plan.
Photo: Qantas
Chairman Richard Goyder said Hudson’s appointment followed a rigorous selection process and allows for a smooth transition from current CEO Alan Joyce.
“Much thought has gone into this succession and the Board has had a number of high-profile candidates to consider, both internally and externally.
“Vanessa has a deep understanding of this business after almost three decades in a range of roles both on land and at sea, in commercial, customer and finance roles. She has tremendous airline experience and is an outstanding leader.”
What is the Joyce legacy?
Announcements like these are often written in two parts, along the lines of the “king is dead – long live the king” so popular with politicians. The reality is that Joyce has steered Qantas through some serious existential shocks, including the fleet grounding, the global financial crisis, numerous labor relations and COVID-19.
Photo: Airbus
He will end up with what is likely the biggest win in the history of Qantas and an airline poised for even greater success both financially and operationally when Project Sunrise becomes a reality. Much will be written about him and his legacy, shaped by his combative nature and divisive stance on doing what is best for Qantas.
As expected, the chairman lavished his praise on Joyce, saying that “a great deal of credit for the bright future ahead of Qantas goes to Alan”. Goyder pointed to an airline with a clear strategy, a strong balance sheet and record profitability that “supports a pipeline of investments for customers, opportunities for our employees and returns for shareholders.”
Image: Airbus
While Joyce will no doubt have much to say today and in the weeks to come, today’s announcement contained just that from him.
“At the request of the board, I have extended my time as CEO to review the COVID recovery plan. Now that we are on the other side of this crisis, it is a logical time for me to step down. There is still a lot I want to do to deliver over the next six months and at the top of that list is ensuring a smooth handover to Vanessa, who I am sure will excel in this role.”
Who is Vanessa Hudson?
Today is also about Vanessa Hudson, who joined the airline in 1994 as Head of Internal Audit and now finds herself on the Qantas Board of Directors, holding the chair as CEO-elect. She will be the airline’s 13th CEO in its 103-year history, taking on the role after this year’s AGM in November.
Photo: Qantas
Her Qantas career has included senior positions in finance, catering, inflight services, sales and commercial planning, as well as serving as senior vice president, Americas and New Zealand. Hudson will continue in her current role as Group Chief Financial Officer until she succeeds, a position she assumed in 2019 when the pandemic threw her gargantuan spread on Qantas’ balance sheet.
She also led the fleet selection process for last year’s domestic fleet renewal and will now have the opportunity to see this under her oversight. This extensive experience across most facets of the airline, including the last five years on the Group Management Committee, means it will not need any L-plates when it assumes the top position. Hudson gave an insight into their approach this morning:
“It is an absolute honor to be asked to lead the national airline. This is an exceptional company full of incredibly talented people that is very well positioned for the future. My focus will be on delivering for those we rely on and who rely on us – our customers, our employees, our shareholders and the communities we serve.”
Photo: Qantas
With all speculation about Joyce’s future as CEO of Qantas now settled, the focus will shift to analyzing his legacy and accomplishments, with fans and critics alike lining up to have their say.
Twelve months ago, Qantas was pretty ragged with its reputation, but Joyce and his team have since turned that situation around, and the airline he’s passing on to Hudson bears no resemblance to the early 2022 version.
Probably the big question is where will he show up next?
What do you think of this change? Let us know in the comments.