Alan Joyce, the long-serving chief executive of Qantas Airways (ASX:QAN), is retiring early amid the vapour trails of a series of issues that have created significant turbulence for the Aussie airline.
Despite recently reporting a record annual profit and initiating plans for fleet upgrades, Qantas has faced significant reputational damage.
Recent issues include allegations by Australia's consumer regulator of selling tickets for flights that were already cancelled and not timely informing passengers about flight changes. The potential fine for these allegations could be substantial.
Additionally, Qantas faced backlash for attempting to cancel customer credits related to Covid flight groundings and became embroiled in a political scandal over market competition concerns.
Joyce, who has been both lauded for his leadership and criticised for declining customer service standards, has faced calls to reduce his bonuses, especially after selling A$17 million worth of shares recently. Vanessa Hudson will succeed Joyce as CEO.