Qantas Group announces restructure and changes to executive team
Qantas Group announced (22-May-2012) the Group's new structure, effective 01-Jul-2012, as part of the next phase of its five-year transformation plan launched in Aug-2011. Under the new structure, Qantas International and Qantas Domestic will be formally managed as two distinct businesses, each with its own CEO, operational and commercial functions and their financial results will also be reported separately.
Changes to the Qantas Group executive committee are as follows, under CEO Alan Joyce who said the restructure will strengthen the Qantas Group's portfolio and help deliver its strategic goals:
- Qantas International CEO: Simon Hickey (currently CEO of Qantas Frequent Flyer);
- Qantas Domestic CEO: Lyell Strambi (currently group executive of Qantas Airlines operations);
- Jetstar Group CEO: Jayne Hrdlicka (currently group executive of Qantas Airlines strategy and technology - this function will move under Qantas Group CFO Gareth Evans);
- Qantas Frequent Flyer CEO: Lesley Grant (formerly the group executive responsible for developing Qantas' new international strategy);
- Group executive, people and office of the CEO: Jon Scriven;
- Group executive, government and corporate affairs: Olivia Wirth;
- General counsel: Brett Johnson;
- CFO: Gareth Evans;
- Jetstar Group CEO Bruce Buchanan will leave the Qantas Group while remaining at Jetstar for the next six months to assist with the transition. Mr Buchanan will then provide consultancy services to the Qantas Group for an additional 18 months;
- Qantas Airlines group executive commercial and freight, Rob Gurney, will be leaving the Group. [more - original PR]
Qantas Group: "Qantas International, a great airline with a rich history, is loss-making and does not deliver sustainable returns. However, we are committed to turning it around through the five-year strategy we announced last year, based on flying to global gateways, deeper alliances, smart investment in product and disciplined capital management. Formally separating the management of Qantas International and Qantas Domestic will ensure that we can independently run each business according to its specific priorities and market conditions. These measures give us the right structure to address the challenges and opportunities we face - and the right people," Alan Joyce, CEO. Source: Company statement, 22-May-2012.