Jayne Hrdlicka to resign as CEO

[milehighclub]

She has started the process to resign as CEO. Global search for a new CEO for VA.

 

[muppet]

Interesting. Do you have a source?

 

[milehighclub]

Interesting. Do you have a source?

Gotta a message from a mate there - was sent as email to all staff.

 

[twinaisle]

Can confirm.

 

[Harrison_133]

From the VA Newsroom:

Virgin Australia leadership to transition

20 February 2024: Following on from a return to profitability in FY23 and a strong first half of FY24, Virgin Australia Holdings announces that Jayne Hrdlicka, with the Board&rsquo

newsroom.virginaustralia.com

 

[HSB44]

new CEO needed for float?

 

[kamchatsky]

Time to brush the dust off my CV....

 

[jrfsp]

So thats why AJ has returned from Ireland

 

[Carrots]

So thats why AJ has returned from Ireland

Not sure whether to laugh, or cry!

 

[RooFlyer]

new CEO needed for float?

Looks like it. May be a clue that there won't be any airline with controlling (in Corps Law definition) shareholding post float, as they would possibly want their own person there. Or maybe the selection panel will include some "external people" . Or maybe the contract will have a termination + good payout clause after certain 'defined events'.

 

[CMA222]

Ms Hrdlicka may as well take her golden parachute and move on and let someone else take the flak and stress trying to talk up the future of VA. My long term investment in the previous VA demonstrated that the only real winners were Sir Richard and the corporate and superannuation investors. Good luck to those who take the plunge.

 

[Carrots]

The words in the press release are certainly believable… right time etc etc bla bla.

But the obvious question. Was the CEO pushed, jump after reading the writing on the wall, or simply as stated?

Or perhaps option D please Eddie, all of the above.

 

[TMP]

Reading between the lines of the corporate statement, it looks like simply as stated.

 

[NM]

Also reported by Australian Aviation:

Breaking: Jayne Hrdlicka quits as Virgin CEO

The shock announcement comes as the carrier, currently owned by US investment firm Bain Capital, prepares to re-list on the stock market for the first time since it went into administration during the pandemic. The Board will now begin a global search for her replacement.

australianaviation.com.au

 

[simmomelb]

The words in the press release are certainly believable… right time etc etc bla bla.

But the obvious question. Was the CEO pushed, jump after reading the writing on the wall, or simply as stated?

Or perhaps option D please Eddie, all of the above.

I personally think this is a great time, new CEO + IPO = best chance of a fresh start for the airline now the worst days are behind us.
It'll certainly be interesting over the next few months to see what announcements are made with VA.
Popcorn is ready

 

[Must...Fly!]

I'd say she's done her job, the float didn't happen for a number of reasons but she also has had personal distractions of a sad nature lately. She may just want to step back. But it's also a good time to have someone new come in and take the company forward.

Will be interesting to see what happens.

Can't help but think what Mr Scurrah makes of it...

 

[HS-TQE]

I'd suspect if JH was pushed/leaving on Bad Terms with Bain she would've been leaving immediately with a acting CEO already named in the presser and have been put in place.

 

[Saab34]

The words in the press release are certainly believable… right time etc etc bla bla.

But the obvious question. Was the CEO pushed, jump after reading the writing on the wall, or simply as stated?

Or perhaps option D please Eddie, all of the above.

It’s Private Equity here. On the eve of a float, clearly they are not happy.

Likely bad news regardless. They are not match fit for a float as had been discussed on here prior.

 

[DC3]

Interesting. Do you have a source?

It’s all over the web

 

[muppet]

It’s all over the web

I think the timing differential between my post (1.5 hrs ago) and you reading it, may be a factor here.