Moves to replace Alan Joyce as Qantas’ chief executive could be gearing up, with reports that leadership advisory firm Russell Reynolds has been hired to help find Mr Joyce’s replacement.
The Financial Review says that Russell Reynolds, which specialises in recruiting top-level executives, has worked previously with Qantas and have been asked to define the requirements for Mr Joyce’s successor.
Qantas chairman Richard Goyder has verified that the firm has been collaborating with Mr Joyce and the airline for a while to renew their executives, according to reports.
The moves come as Mr Joyce scores a plum position outside the aviation industry as chair of the Sydney Theatre Company, succeeding Seek CEO Ian Narev.
Qantas announced last week that former Air New Zealand executive Cameron Wallace will lead its international and freight business.
Changes afoot
Mr Wallace recently served as the chief commercial and customer officer at Air New Zealand and has more than 20 years of aviation experience in the Asia-Pacific region.
He will replace outgoing international and freight CEO Andrew David from July 1.
Mr Wallace’s appointment comes as speculation grows over who will replace Mr Joyce when he retires.
The Australian Financial Review reports that Qantas senior leaders anticipate Mr Wallace may compete against Loyalty CEO Olivia Wirth and the airline’s CFO Vanessa Hudson for the top job.
Ms Hudson has previously expressed her leadership ambitions, telling Bloomberg last year: “If the board were to give me the opportunity to step into Alan’s shoes, I would be incredibly honoured and proud to do that.”
Ms Wirth was hired by Qantas in 2009 and has been in charge of the chief customer, public affairs and loyalty departments.
She lacks experience in managing an airline’s operations like Ms Hudson, but she successfully guided Qantas’ most profitable sector, Loyalty, during the pandemic period.
Stephanie Tully, who currently heads up Jetstar, has also been rumoured by some to be a potential contender for the role.
At Qantas’ annual general meeting last year, Mr Goyder revealed that the issue of succession was frequently discussed at board meetings. He said there were “very capable executives” waiting to take over, according to reports.
Mr Joyce, who took the helm at Qantas in 2008, is one of the industry’s longest-serving chief executives.
He is expected to retire at some point this year, although he has stated he will stay with the airline until the end of 2023 to oversee the recovery from the COVID-19 pandemic.
When announcing Qantas’ $1.43 billion profit for the December half last week, Mr Joyce told reporters that he plans to remain with the airline until at least the end of this year.
“Nothing has changed from what I said before about my tenure … I’m going to be here until at least the end of this year,” Mr Joyce said.
“I’ve always said my task is to leave Qantas in a better position, a stronger position, and once that’s done and my very last task is to make sure I have an internal successor.”
Enter Mr Wallace
In a statement, Qantas said Mr Wallace would bring his experience in sales, revenue management, market development, alliances, and cargo to his new role at Qantas.
He will join the airline as part of its group management committee, working alongside other top executives to drive its growth and development.
The airline says Mr Wallace’s responsibilities will include “growing Qantas International’s capacity to 100 per cent of pre-COVID levels and beyond, as well as guiding preparations for Project Sunrise through to the first flight in late 2025”.
Mr Joyce praised Mr Wallace’s track record of success and his wide-ranging expertise in various areas of the airline industry.
“Cam Wallace is one of the best airline executives in the region. He brings over two decades of airline experience including his long career at Air New Zealand, with responsibilities spanning sales, revenue management, market development, alliances and cargo,” he said.
“Cam is inheriting a very talented team and will add to the depth of experience on our group management committee.”
Mr Wallace expressed his pride to be joining Qantas.
“It’s an honour to be joining Qantas, especially at a time when it’s investing so heavily in aircraft and service,” he said.
