Qantas chairman Richard Goyder will step down before Qantas’ next annual general meeting (AGM) in late 2024, the company’s board has announced.
The move comes amid a raft of planned changes for the Qantas board, which it says recognises the “reputational issues” facing the and the need to restore trust in the company.
Among the other changes will be the retirements of Jacqueline Hey and Maxine Brenner at Qantas’ half-year results in February 2024, which come after 10 years on the board.
Before then, non-executive director Michael L’Estrange will retire at this year’s AGM on 3 November 2023 as previously announced.
This year’s AGM will also see Doug Parker, Dr Heather Smith, and Qantas CEO and Managing Director Vanessa Hudson offer themselves for election to the board, along with existing directors Todd Sampson and Belinda Hutchinson.
Board members will then have an average tenure of around three years from the 2024 AGM to balance “fresh leadership with necessary continuity”.
The board has kickstarted the process of appointing new non-executive directors and a new chairman in the coming months. Additionally, new committee roles will be designated in the near future.
Furthermore, the board has initiated an independent review of significant governance matters over the past year. The outcomes of this review are expected to be disclosed in the second quarter of the calendar year 2024.
“Mistakes were made”
“As a board, we acknowledge the significant reputational and customer service issues facing the group and recognise that accountability is required to restore trust,” Goyder said.
“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 apologise for those times where we got it wrong.
Though Goyder defended his actions as always “in the best interests of Qantas”.
“Measured and orderly succession at board level will support the important work underway led by Vanessa and her new management team,” he added.
“Fundamentally, the group is in a very strong position to overcome its current challenges and deliver for all its stakeholders in the years ahead.”
“Shuffling the deckchairs”
Meanwhile, the Transport Workers Union (TWU) says Goyder should join former Qantas CEO Alan Joyce in early retirement, also calling for “genuine renewal” of the board.
Among its recommendations is the removal of the CEO position and the installment of a worker representative to add “independent scrutiny and holistic decision-making”.
“Joyce did very little right in his tenure at Qantas, but the one thing he did do was take an early exit and Goyder should follow him,” TWU National Secretary Michael Kaine said.
“Certainly not to escape accountability for illegal conduct but to pave the way for a reset of Qantas governance.
“This announcement is an attempt by Goyder to leave in a dignified manner with another year’s pay in his pocket, after presiding over the largest case of illegal sackings in Australian history.
Kaine called the new announcements akin to “just shuffling the deckchairs”.
“We need to put an end to illegal conduct being blindly rubber-stamped by a board that fails to scrutinise the CEO who is treated as their equal by having a place on the board,” he added.
“With no worker representation, Qantas governance has ignored the needs of the workforce and decimated jobs and standards.”
Last month, a Queensland-based Greens MP called on the federal government to consider bringing the flying kangaroo back into public hands.
In late September, the Qantas Group announced it would spend $230 million across FY24 to make improvements across various operational areas of its businesses.
