Qantas’ past, present, and uncertain future: A CEO’s departure raises questions
“I leave knowing that the airline is fundamentally strong and has a bright future,” are today’s parting words from Mr. Alan Joyce, now ‘former’ Chief Executive Officer (CEO) of Qantas (ASX:QAN) and pictured below with Australia’s current Prime Minister, Anthony Albanese.
Source: NCA Newswire
There are many questions remaining, given the extraordinary reports about the behaviour of the airline towards its staff, customers and competitors. There are the more salacious ones related to whether Joyce fronted the board prior to retiring. Had the board set up a firing squad in readiness for a meeting with their CEO? Does retiring early without fronting the board – if that is what transpired – leave the board hanging out to dry, unable to demonstrate they took any action that recent events and reports suggest may have been required?
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
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