If you own Qantas shares, sell them now. There will be the usual first financial year clean out that new CEOs do. Financial clean out that is. All skeletons are brought out and thrown out.
no doubt as CFO she is well aware of exactly what she will do and will be using the time until November to plan her moves.
these will include writing off or writing down any assets that are potentially over valued. This can include software.
work out redundancies. So that any redundancy expense is out through in the first financial year.
the whole idea is to bring everything that could potentially be bad news in future years into the first financial year. Also slash staff costs and make sure the redundancy expenses which can be significant are out through.
so in her second financial year she can then turn around and say how well she has done because profits are higher than that disastrous first year. Look how good I am.
standard procedure for any new CEO and with 15 years of Joyce I imagine there are plenty of skeletons.
so expect redundancies first half of next year.. and a lower than expected profit result.
if you want to buy back shares, wait until the start of her second financial year after the first years bad profit has been announced and the share price takes a hit.