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Qantas CEO Steps Down After Scandal


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Today’s News

Qantas Airways Ltd. CEO Alan Joyce has decided to step down prematurely, a jarring exit for one of aviation’s highest profile leaders after claims of the airline selling tickets for thousands of flights after they have already been canceled.

Joyce is due to hand over all operational aspects to Chief Financial Officer Vanessa Hudson by November as his departure is dated Sept 6, Qantas said in a statement earlier today. CFO Vanessa Hudson is now tasked to repair the carrier’s tattered reputation with customers as regulators tighten their focus on Qantas’s dominance of the Australia’s aviation market.

Hudson’s untimely succession shows an airline bowing to public anger over the alleged sale last year of seats on flights that were never going to take off. The scandal, the latest in a series of blows to Qantas’ reputation in recent months, has been amplified by the airline’s record-breaking profits.

Qantas shares rose as much as 0.5% in early Sydney trading Tuesday. Joyce’s unexpected departure after 15 years at the helm is an extraordinary concession, just weeks before a planned formal farewell at the airline’s annual general meeting.

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