Jayne Hrdlicka to resign as CEO

[MARTINE]

Well staff backtracking now. Hmmm.

https://www.airlineratings.com/news/industry-news/virgin-australia-ceo-departure-rumour-scurrelious-nonsense/

‘Scurrilous nonsense’ gets used by the PR playbook. Whenever I see - I take the rest of the message with a grain of salt. Why not just say ‘false’ - if it is.

 

[jakeseven7]

Does JH departing make VA2’s gender pay gap any worse?

They were just revealed as one of the worst offenders in Australia the large company (over 5000 employees) category.

 

[drron]

‘Scurrilous nonsense’ gets used by the PR playbook. Whenever I see - I take the rest of the message with a grain of salt. Why not just say ‘false’ - if it is.

In this case probably scurrahlous nonsense.

 

[MooTime]

Well staff backtracking now. Hmmm.

https://www.airlineratings.com/news/industry-news/virgin-australia-ceo-departure-rumour-scurrelious-nonsense/

Who's backtracking?
That's if you believe a previous article of your choosing.

She cried at some stage, oh well, seen tears at so many departures.

We can believe what we want to believe from various and many articles.<redacted>

 

[dajop]

The talk of this being brutal is just a complete joke. She's the CEO. She'll be looked after.

MNC's, particularly American ones, are far more brutal and that's not for CEO's that's for regular staff.

 

[Saab34]

Indeed she will. A early exit prior to contract finishing will generally involve a separation deed. Financially lucrative for the departing individual, generally costly for shareholders. The expectation is she is to say nothing, just disappear into the sunset, just go away. I think she will be a bit more low key this time around, compared to the A2 departure.

Unknown what this means for many of the executives, who obviously have been lured by the provision of a financial windfall from a float. That won’t occur with a trade sale. You will probably find the Executive team will be turfed out, minus the Bain additions, under the new chief.

 

[jb747]

Unknown what this means for many of the executives, who obviously have been lured by the provision of a financial windfall from a float. That won’t occur with a trade sale.

Which is the problem with management teams. They get a salary. That should be it. This is just parasite stuff.

 

[Quickstatus]

They get a salary

Why should they get a bonus for doing a good job?

 

[RooFlyer]

Why should they get a bonus for doing a good job?

The theory is, that they need a high salary to be attracted to take the job (which in this case with a company that has a few issues). You put a good chunk of the high salary package as bonuses so they can be withheld if certain circumstances occur (except if you are CEO of QANTAS in which case you get it anyway). Or bonuses for a year deferred so that you stick with the job.

That's the theory, anyway.

 

[jb747]

That's the theory, anyway.

A theory that has been generated by the same people who benefit from it. And how well has it been working out? It would seem that the more they get as a bonus, the shorter they can afford their term to be, so the more extreme the damage they can do. They'd still get good people with a salary and no bonus, but they wouldn't get the parasites.

And if you must pay bonuses, then cash only, never shares (which simply makes "buy backs" popular), and payment 10 years down the road, when we can clearly see whether they damaged or built. My bet is that you'd never have to pay a bonus at all, as not many seem capable of building.

 

[elanshin]

I wonder if QR is even remotely a possibility. I can see the Aus government coming in and blocking a sale to QR. Have to remember that any such sale also needs to go through the regulatory bodies.

As such I doubt QR is entertaining the idea either given their situation with the Aus government.

 

[Must...Fly!]

I doubt QR are interested either, but it would present a curious conundrum for the government...

 

[HS-TQE]

QR were reported to be alleged suitors in VA when Akbar Baker was CEO, but with a new CEO and team since Al's departure for a Qatar government role, things may had changed since then.

 

[Must...Fly!]

QR were reported to be alleged suitors in VA when Akbar Baker was CEO, but with a new CEO and team since Al's departure for a Qatar government role, things may had changed since then.

I personally never really believe the CEOs of the ME carriers make many significant decisions. More so how to deliver the strategic objectives of their puppet masters.

 

[flyingfan]

Bit sad (or maybe not) to get 'A message from Jayne Hrdlicka' email about features and promotions a couple of days ago. (I know these emails have some lag time for drafting and clearance.)

Slightly interesting the email says they're "laser-focused on the experience" of booking and flying, bit of a different tone from these usual puff pieces.

 

[drron]

The one reason I had a little bit of respect for J H was that she was almost certainly disliked by AJ. CEO of JQ for 5 years when it expanded and then in November 2017 moved into the QF head office as head of loyalty and announced her retirement 1 month later.

 

[moa999]

Wouldn't agree with that.

Pretty sure Jayne was hired from Bain Consulting (not Bain Capital) when Joyce was CEO, and I don't think you last five years as a direct report if he doesn't like you.

 

[Saab34]

She went to his wedding. They are not enemies. My enemies did not attend my wedding.

 

[33kft]

She went to his wedding. They are not enemies. My enemies did not attend my wedding.

I wish I could say the same.....

 

[Quickstatus]

Has Bain and the other shareholders extracted any $$$ prior to the IPO?