Qantas Names Vanessa Hudson As First Female CEO To Lead the Airline
Written by Sanjay Kumar
Qantas Airways Ltd, Australia’s flagship carrier, announced on Tuesday (May 2) that Vanessa Hudson will be the airline’s next CEO. She will be the first female to lead the century-old company.
Hudson will replace Alan Joyce in November, who has held the position for 15 years, making him the longest-serving current CEO of a major Australian company and a towering figure in the global aviation industry. Hudson’s appointment is notable as there are few female executives leading major companies in Australia. However, rival carrier Virgin Australia also has a female CEO, Jayne Hrdlicka.
In her first news conference as CEO designate, Hudson told reporters that she has a deep understanding of the organization and that her experience in helping manage through COVID puts her in an excellent position to invest in customers and new aircraft. Qantas Chairman Richard Goyder praised Hudson’s handling of the finance and treasury portfolio during the COVID crisis, putting her ahead of almost 40 candidates globally that the airline had short-listed for the role.
Hudson has been with Qantas for 28 years and has held several senior roles there, including CFO, chief customer officer, and senior vice president for the Americas and New Zealand. Although men still occupy most top executive roles in Australian-listed companies, a growing number of high-profile CEO positions are now held by females, including at investment bank Macquarie Group, telco Telstra Corp, oil and gas giant Woodside, and financial services firm AMP.
Hudson said she was proud to lead the airline.
“On a personal note, I have two young daughters, 21 and 18, and I’ve always been a mother who’s wanted to lead by example and to listening to their reflections last night was incredibly meaningful to me,” she said.
On Tuesday, Qantas shares dropped 2.4% against a broader market decline of 0.25%. According to RBC Capital Markets analyst Owen Birrell, Hudson’s experience as CFO since October 2019 has prepared her well for the very public role as Qantas CEO.
SUCCESSION PLANS
During his 14-year tenure as Qantas CEO, Alan Joyce, 56, helped guide the airline through numerous challenges, including the COVID-19 pandemic, fluctuating fuel prices, and competition. The airline faced reputational damage during the pandemic due to flight cancellations, job cuts, and financial support from the government.
Vanessa Hudson, Qantas’ incoming CEO, acknowledged the airline’s efforts to rebuild trust among its customers but acknowledged that she has a challenging task ahead in building ties with the unions. Unions have had a poor and often bitter relationship with Joyce, who hired bodyguards in 2011 after receiving death threats over his decision to ground the airline’s entire fleet during an industrial dispute.
According to Transport Workers Union (TWU) National Secretary Michael Kaine, the announcement of Hudson’s appointment provides an opportunity for Qantas to reset its approach.
Despite the challenges, Qantas recorded a record first-half profit after a loss this year due to surging travel demand from a population eager to shed pandemic restrictions, driving up fares and profits.
Qantas Chairman Richard Goyder stated that the company is extremely well-positioned for the upcoming transition. Hudson will continue in her current role until taking over as Qantas’ 13th CEO at the 2023 annual general meeting.
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