SYDNEY — Australia’s biggest airline, Qantas Airways, said Chairman Richard Goyder and other board members would step down as the company seeks to repair its battered reputation among customers.
Qantas
QAN,
+2.04%
said Goyder will retire prior to the shareholder meeting in late 2024. Board members Jacqueline Hey and Maxine Brenner will retire at the airline’s half-year result in February.
The airline said the plans for board renewal are in recognition of the reputational issues facing the group. The airline’s brand took a hit after regulators alleged that it had been dishonest with customers and lawmakers criticized its pricey airfares. Its longtime chief executive, Alan Joyce, recently stepped down early.
The airline said once new directors are in place, the board is expected to have an average tenure of around three years, providing a balance of fresh leadership with continuity. Hey and Brenner have been on the board for about 10 years, Qantas said.
“As a board, we acknowledge the significant reputational and customer service issues facing the group and recognize that accountability is required to restore trust,” Goyder said. He added that orderly succession at the board level would support work by new chief executive Vanessa Hudson.
Qantas previously announced that board member Michael L’Estrange would retire at this year’s shareholder meeting in November. It said that three new directors, including Hudson, Doug Parker and Heather Smith, as well as two existing directors, Todd Sampson and Belinda Hutchinson, would offer themselves for election at the meeting.
The airline said it has initiated a process to appoint new directors in the months ahead, as well as a new chairman.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MarketWatch – http://www.marketwatch.com/news/story.asp?guid=%7B20C0C4D5-7425-4434-F126-66634EC3A5E4%7D&siteid=rss&rss=1
