Originally Posted by
1A_Please
I have to question the wisdom of announcing the new CEO but letting the outgoing CEO hang around for another 6 months. It is unclear who has authority in the meantime and a sign of weakness by the Chairman who is unable or unwilling to tell the outgoing CEO to do a quick victory lap and leave ASAP. Goyder, who seems pretty impotent against his CEOs, has done this extended leaving period at both Qantas and AFL.... twice in the same week.
The long kiss good night seems to be a bit of a Qantas tradition for CEOs. Dixon was named as the incoming CEO in November 2000 but didn't assume the role until March 2001. Joyce was named as incoming CEO in July 2008 but Dixon didn't leave until the end of November.
Beyond that, there are a few moving parts to this succession that makes it a smidge more complicated than a simple HO/TO transition. We're only seven or so weeks from EOFY, typically a busy time for Finance and the CFO. VH is likely to be fairly pre-occupied until results are released in August. Concurrently, the Board will be keen to have her replacement sorted before she moves to the corner office in November.
And frankly, given that it was the Board that asked Joyce to stay on for three years in 2020, he was always going to be there to address the 2023 AGM.