Qantas Airways, Australia's flag carrier, has announced that its chairman, Richard Goyder, will step down in late 2024. This decision comes as the airline is working diligently to restore trust among investors and fix its battered reputation.
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The announcement of Goyder's retirement was made on Wednesday. This move is part of a boardroom "renewal" prompted by a series of scandals that have negatively impacted the airline's reputation. Qantas has faced criticism over high ticket prices, illegal ground staff layoffs during the COVID-19 pandemic, and allegations it sold thousands of tickets for already-cancelled flights. These issues led to the early retirement of former Qantas chief executive Alan Joyce.
In response to these challenges, Goyder stated, "Qantas has gone through an incredibly difficult period since our operation was grounded during the pandemic. The recovery has not been easy, and mistakes were made. We again apologize for those times when we got it wrong." As part of the boardroom renewal process, Qantas has already started the process to appoint a new chairman and new non-executive directors. Changes over the next year will result in a younger board with an average tenure of about three years. Qantas has also initiated an independent review of key governance matters, with results expected in the second quarter of 2024.
The planned exit of Richard Goyder from Qantas marks a significant transition for the airline. As Qantas navigates through this challenging period, it is committed to restoring its reputation and rebuilding trust with its stakeholders. The airline's proactive steps towards boardroom renewal and governance review reflect its dedication to these goals.
