Qantas Chairman Richard Goyder to Step Down in 2024
Qantas Airways Chairman Richard Goyder has announced his decision to leave the company in late 2024, as the airline strives to rebuild its reputation following a turbulent period.
The departure of Goyder comes amidst mounting pressure from disgruntled investors, who have called for his resignation due to ongoing legal and regulatory challenges faced by the airline.
Goyder, who assumed the role of chairman in 2018, defended his position during a recent parliamentary hearing, stating that he has maintained high ethical standards throughout his career. He also received support from the airline’s major shareholders during the committee session.
Qantas has been grappling with various difficulties, including a High Court ruling in September that dismissed the airline’s appeal against a judgment that found it had unlawfully cut jobs. Additionally, the Australian Competition Regulator filed a lawsuit against Qantas for selling fake seats, resulting in the resignation of former CEO Alan Joyce.
“As a board, we acknowledge the significant reputational and customer service issues facing the group and recognize the need for accountability to restore trust,” remarked Goyder.
Goyder acknowledged the challenges faced by the airline since the onset of the COVID-19 pandemic, stating, “The recovery has not been easy, and mistakes were made.”
Qantas has initiated the process of selecting a new chairman to lead the company.
“The wave of changes we’re witnessing, from CEO to chairman, can create uncertainty for shareholders, and investors generally dislike uncertainty,” commented Josh Gilbert, market analyst at eToro AUS Capital.
“If the new Qantas team can adopt a more diplomatic approach to worker relations, improve the customer experience, and effectively compete with rivals through competitive fares, investors will feel a sense of relief,” added Gilbert.
