Qantas Chair Speculation
Thread Starter
Join Date: Jan 2005
Location: Where I'm not alarmed
Posts: 454
Likes: 0
Received 0 Likes
on
0 Posts
Qantas Chair Speculation
The more things change, the more they stay the same! From The Australian
Some NEW blood is definitely needed before the place sinks without trace, just like Ansett. Didn't Strong leave two airline companies in poor shape when he activated the "Golden Parachute"?
Glenda Korporaal | July 19, 2007
JAMES Strong's push for the Qantas chair received a boost yesterday with major shareholder Balanced Equity indicating it would be happy with him taking on the job in November.
Balanced Equity chief executive Andrew Sisson said Mr Strong, who stepped down as Qantas chief executive in March 2001, would be a good chairman.
But he said there might also be some other good candidates for the job, which will become vacant when Margaret Jackson steps down at the annual meeting.
"We will just wait and see," said Mr Sisson, who controls 5.3 per cent of Qantas stock. "It will take a little time to play out."
Ms Jackson announced that she would step down as chairman amid criticism of her performance during the recent failed takeover bid.
Corporate governance executive Sandy Easterbrook of CGI Glass Lewis also endorsed Mr Strong as chairman yesterday, despite the specific clause in the airline's charter banning former chief executives from the role.
Mr Easterbrook said Mr Strong did not rejoin the board until July last year, a six-year break that was long enough for him to be considered an independent director.
He said Qantas could also benefit from having a chairman who knew the company and the airline industry well, given the turbulence of the failed $11 billion private equity takeover bid launched last December by Airline Partners Australia.
He said the clause in the charter was inserted to prevent a situation where a chief executive moved straight on to become chairman.
The moves come as the Qantas board yesterday discussed the chairmanship and new board appointments.
The meeting ended yesterday without any specific announcement.
A Qantas spokesperson said the board had had "substantive" discussions on strategic initiatives, board representation and the chairmanship.
Qantas has appointed executive search company Spencer Stuart to help it fill three board positions.
One is already vacant and two more spots open up in November after the departure of Ms Jackson and director James Packer. But the chairman is expected to be appointed from within the ranks of the existing board.
JAMES Strong's push for the Qantas chair received a boost yesterday with major shareholder Balanced Equity indicating it would be happy with him taking on the job in November.
Balanced Equity chief executive Andrew Sisson said Mr Strong, who stepped down as Qantas chief executive in March 2001, would be a good chairman.
But he said there might also be some other good candidates for the job, which will become vacant when Margaret Jackson steps down at the annual meeting.
"We will just wait and see," said Mr Sisson, who controls 5.3 per cent of Qantas stock. "It will take a little time to play out."
Ms Jackson announced that she would step down as chairman amid criticism of her performance during the recent failed takeover bid.
Corporate governance executive Sandy Easterbrook of CGI Glass Lewis also endorsed Mr Strong as chairman yesterday, despite the specific clause in the airline's charter banning former chief executives from the role.
Mr Easterbrook said Mr Strong did not rejoin the board until July last year, a six-year break that was long enough for him to be considered an independent director.
He said Qantas could also benefit from having a chairman who knew the company and the airline industry well, given the turbulence of the failed $11 billion private equity takeover bid launched last December by Airline Partners Australia.
He said the clause in the charter was inserted to prevent a situation where a chief executive moved straight on to become chairman.
The moves come as the Qantas board yesterday discussed the chairmanship and new board appointments.
The meeting ended yesterday without any specific announcement.
A Qantas spokesperson said the board had had "substantive" discussions on strategic initiatives, board representation and the chairmanship.
Qantas has appointed executive search company Spencer Stuart to help it fill three board positions.
One is already vacant and two more spots open up in November after the departure of Ms Jackson and director James Packer. But the chairman is expected to be appointed from within the ranks of the existing board.
Sprucegoose
Join Date: Sep 2000
Location: Hughes Point, where life is great! Was also resident on page 13, but now I'm lost in Cyberspace....
Age: 59
Posts: 3,485
Likes: 0
Received 1 Like
on
1 Post
Only if it's a Labour government!
Well at least you won't be getting a certain Sith Lord as next Chairman!
He said the clause in the charter was inserted to prevent a situation where a chief executive moved straight on to become chairman.
Join Date: Oct 2004
Location: Heaven
Posts: 584
Likes: 0
Received 0 Likes
on
0 Posts
Deck Chairs on the Titanic
More Ice in your glass Sir?
Strong wont be any worse or better than Whacko Jacko.
He and Dixon do have a 30 year history.
Expect a compliant rubber stamping Chairman if Jimmy BowTie gets up.
Better the Devil......?
Strong wont be any worse or better than Whacko Jacko.
He and Dixon do have a 30 year history.
Expect a compliant rubber stamping Chairman if Jimmy BowTie gets up.
Better the Devil......?
Registered User **
Join Date: Aug 2005
Location: Sydney
Posts: 621
Likes: 0
Received 0 Likes
on
0 Posts
Thats right,old Jimmy pretended to be friendly but sold everything the company owned that wasn't bolted down to make the books look good.
As Defcon said is this a case of... better the devil you know.....
As Defcon said is this a case of... better the devil you know.....
Join Date: Aug 2001
Location: Stuck in the middle...
Posts: 1,638
Likes: 0
Received 1 Like
on
1 Post
Anyone running a book on it?
What are the chances of a certain erstwhile cricket-playing Rhodes SCholar of WA origin and airline management experience being in the frame?
What are the chances of a certain erstwhile cricket-playing Rhodes SCholar of WA origin and airline management experience being in the frame?
Join Date: Mar 2007
Location: Warm & Sunny
Posts: 94
Likes: 0
Received 0 Likes
on
0 Posts
Taildragger..
Surely you don't mean the "AIRLINE MANAGEMENT GURU" who sold off all the profitable sections of Ansett, such that said Company miraculously made a $140m six month profit , then sucked the incompetants from across "the ditch" into taking his bosses' 50% of his hands ???
Wonder if he got a 5 or 10% bonus for that one
Role on....
Surely you don't mean the "AIRLINE MANAGEMENT GURU" who sold off all the profitable sections of Ansett, such that said Company miraculously made a $140m six month profit , then sucked the incompetants from across "the ditch" into taking his bosses' 50% of his hands ???
Wonder if he got a 5 or 10% bonus for that one
Role on....
Registered User **
Join Date: May 2005
Location: The Ultimate Crew Rest....
Age: 69
Posts: 2,346
Likes: 0
Received 0 Likes
on
0 Posts
Nick has been very busy since leaving politics.
The only board that Nick is not these days is an ironing board....
Then we have another ex Premier BC who from memory is a consultant for a certain Bank.
The only board that Nick is not these days is an ironing board....
Then we have another ex Premier BC who from memory is a consultant for a certain Bank.
