Alan Joyce to stand down as Qantas chief executive tomorrow after tumultuous week

Alan Joyce will leave Qantas tomorrow after a tumultuous week for the airline.

Key points:

Qantas announced his early departure saying Mr Joyce would bring forward his retirement by two months to help the company “accelerate its renewal”.

Vanessa Hudson will assume the role of managing director and group chief executive effective September 6.

“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,” Mr Joyce said in a statement.

“The best thing I can do under these circumstances is to bring forward my retirement and hand over to Vanessa and the new management team now, knowing they will do an excellent job.”

This news of Mr Joyce’s departure comes less that a week after the competition regulator launched legal action against Qantas for allegedly selling tickets to flights that had already been cancelled over a three-month period in 2022.

Qantas said it was taking those accusations seriously.

Qantas needs to restore the public’s confidence, chair says

Mr Joyce said there was a lot of he was “proud” of over his 22 years at Qantas, including the past 15 years as chief executive.

“There have been many ups and downs, and there is clearly much work still to be done, especially to make sure we always deliver for our customers,” he said.

“But I leave knowing that the company is fundamentally strong and has a bright future,” he said.

Qantas chairman Richard Goyder thanked Mr Joyce for his service, saying his decision to bring forward his retirement showed he was putting the company first.

He said Qantas now faced the task of winning back the public’s confidence.

“This transition comes at what is obviously a challenging time for Qantas and its people,” he said.

“We have an important job to do in restoring the public’s confidence in the kind of company we are, and that’s what the board is focused on, and what the management under Vanessa’s leadership will do,” he said.