Qantas share price higher on surprise CEO change

The market has responded positively to some big news out of the Flying Kangaroo.

| More on:
A smiling woman looks at her phone as she walks with her suitcase inside an airport.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Qantas Airways Limited (ASX: QAN) share price is pushing higher on Tuesday.

In morning trade, the airline operator's shares are up 1% to $5.73.

Qantas share price higher on Joyce exit

Investors have been bidding the Qantas share price higher this morning after the airline announced the shock exit of its CEO, Alan Joyce, two months ahead of plans.

Joyce advised that he decided to bring forward his retirement in response to recent events. He highlights that recent events make it clear "that the company needs to move ahead with its renewal as a priority."

Qantas' leader of the past 15 years will exit the role immediately with his replacement Vanessa Hudson taking the helm from tomorrow.

Who is Vanessa Hudson?

Hudson has been with the company even longer than Joyce. She joined Qantas in 1994 and has held a variety of senior commercial, customer, and finance roles across the group in both Australia and overseas.

This includes executive manager of sales and distribution, senior vice president for Qantas across the Americas and New Zealand, executive manager of commercial planning, and executive manager for product and service.

However, her most recent roles were as the chief customer officer in 2018 and then chief financial officer in 2019 through until today.

Back in May when Hudson was appointed as the heir to the Qantas throne, the company's chair, Richard Goyder, commented:

Vanessa has a deep understanding of this business after almost three decades in a range of roles both onshore and offshore, across commercial, customer and finance. She has a huge amount of airline experience and she's an outstanding leader.

Goyder appears to believe this experience will help Hudson navigate Qantas through the current storm. This morning he said:

This transition comes at what is obviously a challenging time for Qantas and its people. We have an important job to do in restoring the public's confidence in the kind of company we are, and that's what the Board is focused on, and what the management under Vanessa's leadership will do.

And judging by the Qantas share price performance today, it seems the market has confidence that Hudson will deliver the goods.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Travel Shares

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

The Qantas share price flew 88% higher in FY 2025! Here's how

Qantas shares surged 88% in FY 2025 to new all-time highs. Here’s what happened.

Read more »

Woman sitting looking miserable at airport
Travel Shares

Qantas shares tumble on cyber attack impacting 6 million customers

Australia's flag carrier airline has been hit with a major cyber incident.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Up 86% in a year, should I still buy Qantas shares today?

Can Qantas shares keep flying higher into 2026? A leading expert reveals his forecast.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Travel Shares

Is the Qantas share price a buy after the Virgin listing?

Should investors be excited or worried about the Virgin listing?

Read more »

A woman stands at her desk looking a her phone with a panoramic view of the harbour bridge in the windows behind her with work colleagues in the background.
Travel Shares

1 amazing Aussie stock down 40% to buy and hold

Let's see why analysts think this top stock could be a buy after a significant pullback.

Read more »

A pilot stands in an empty passenger cabin smiling with his arms crossed looking excited
Travel Shares

Virgin Australia shares take flight on ASX return after IPO

The airline's long-awaited return has started strongly.

Read more »

Woman on a tablet waiting in for her flight in an airport and looking through a window.
Travel Shares

Up nearly 70% in a year, does JP Morgan think Qantas shares can go higher?

Qantas shares have been a home run for investors over both the short and long term.

Read more »

Woman on a tablet waiting in for her flight in an airport and looking through a window.
Travel Shares

UBS reveals the biggest question facing Qantas shares over the next 12 months

UBS takes a look at the projected flight trajectory of Qantas shares post this week’s Jetstar Asia closure.

Read more »