In what looks like a major house cleaning, Qantas Group CEO Alan Joyce has today announced that both the CEO of Qantas International, Simon Hickey, and the CEO of Qantas Domestic, Lyell Strambi, are leaving the company.
The moves means that Andrew David, current COO of Qantas Airways will become CEO of Qantas Domestic, while the current CFO of Qantas Group Gareth Evans will become CEO of Qantas International and Freight.
There are a number of other senior changes but Qantas said that overall the changes give “a flatter structure for the broader Qantas Group executive team.”
Alan Joyce was effusive in his praise for the executives who are leaving his team but noted that:
In the 12 months since we announced our accelerated transformation program, we have made excellent progress. But there is still a lot of work to build the foundation for a stronger, more sustainable and more successful Qantas.
This new executive team will lead this work forward to deliver for our customers, shareholders and employees according to the strategy we have laid out.
Looking forward, the elevation of the CFO to a CEO role looks like both a test for Gareth Evans in running a business, and a succession planning move by the Board and Mr Joyce.
Likewise Andrew David’s elevation from COO to CEO of Qantas domestic will give Qantas another solid potential future CEO when Mr Joyce decides it’s time to move on.
Qantas Shares closed the day off 4 cents to $2.40 just below its recent 4-year high.