Alan Joyce to stay on as Qantas CEO, amid executive shake-up

The Qantas board has asked Alan Joyce to stay on as CEO for another three years or more.

Alan Joyce has been Qantas CEO since 2008. Pic: AAP

The Qantas board has asked Alan Joyce to stay on as CEO for another three years or more, meaning he’s set to head the carrier until at least 2022.

The move emerged was the airline unveiled more management changes which underline the strength of the company’s executive ranks when Mr Joyce does decide to step down.

Top numbers man Tino La Spina has been moved to run international and his place as CFO will be taken by chief customer officer Vanessa Hudson.

Another contender for the top job would be Jetsar boss and former CFO Gareth Evans.

Mr Joyce has run Qantas since 2008 but turns 53 next month.

He was appointed CEO of subsidiary Jetstar in 2003 at the age of 36 and took over as Qantas CEO five years later, in November 2008, replacing Geoff Dixon.

Mr Joyce is keen to continue as CEO, having previously indicated he would like to stay until the November 2020, 100-year anniversary of the airline.

In corporate governance circles 10 tears at the helm is considered a good benchmark, but new Qantas chair Richard Goyder, who is now 59, ran Wesfarmers for 12 years.

Qantas CEO Alan Joyce, left, with new International CEO Tino La Spina. Pic: Adam Yip

After today’s executive shake-up, Mr La Spina will step into International CEO role from October 1 to allow him to see out the current financial year through to annual reporting.

In the meantime, he will work closely with Ms Hudson in preparation for her to take his place as CFO, while Narendra Kumar continues as acting Qantas International chief.

Ms Hudson is currently Qantas’s chief customer officer and a process to appoint her replacement will begin shortly.

Announcing the appointments, Mr Joyce said the changes showed the “depth of talent in the group executive team”.

“A large part of that comes from our practice of giving people exposure in different areas across a diverse portfolio of businesses,” he said.

“Vanessa started with Qantas 24 years ago in finance and audit, before moving to senior roles in flight services, commercial planning, sales and distribution and regional head of Qantas in the US.

“It means she brings a deep understanding of our business as well as a strong background in finance to the role of CFO.”

Mr Joyce said Mr La Spina had been with Qantas for 13 years in a series of senior finance roles, which had given him a “detailed understanding of what drives results in each part of the group”.

“There is a lot of positive momentum across the Qantas Group,” Mr Joyce said.

“We have a great executive team in place and I look forward to working with them over the years ahead as we deliver for our customers and shareholders.”

Ms Webster was reported to have been cautioned by Mr Joyce over her executive reports shortly before her resignation after just 13 months in role of Qantas International CEO.

She had previously expressed her aspiration to one day take on the top job at Qantas.

The international segment is considered one of the most challenging because of the level of competition and the huge fuel bill.

In the first half of the 2019 financial year, the sector’s earnings before interest declined from $134 million to $90m.

It’s understood Mr La Spina’s financial credentials and his understanding of fleet procurement were key to his promotion.