Virgin Australia CEO Jayne Hrdlicka steps down
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The news: Virgin Australia Holdings CEO Jayne Hrdlicka has stepped down from the role after four years as the company moves into its next stage of transformation including an initial public offering.
The numbers: Hrdlicka was appointed chief executive in 2020 after the airline was acquired out of administration by Bain Capital during the Covid-19 pandemic.
After being at the helm for four years, Hrdlicka said now was the time to “pass the baton on” for someone else to lead the 7,500 strong company.
The context: The airline said its first phase of transformation was to reposition itself as a value carrier while returning the airline to profitability.
Its second phase includes "targeting continued growth and margin expansion that will underpin ongoing investment in its customer proposition, secure its long-term financial sustainability, and strengthen its competitive position in the Australian market".
Virgin said the board would commence a global search for a new CEO in due time.
What they said: Hrdlicka said: “The next phase of this journey is another three to five years, making now the perfect juncture to begin the process of leadership transition to deliver the next few chapters of what I’m sure will be a significant long-term success story”.
Virgin Australia’s chair Ryan Cotton said Hrdlicka led the company through the most turbulent times of its 20-year history.
“Her leadership was fundamental to repositioning the airline back to its roots as a value carrier, returning Virgin Australia to profitability for the first time in 11 years,” he said.
“It has laid a strong foundation for continued growth and margin expansion that will underpin Virgin Australia’s competitive position in the Australian market.”
The source: Virgin Australia media release
