After four years as CEO of Virgin Australia, Jayne Hrdlicka has announced she will step down from her position with the board's support. Hrdlicka was appointed CEO following Bain Capital's $2.4bn acquisition of Virgin Australia in 2020, guiding the company through the turbulent era of the covid-19 pandemic.
""I have decided the time is right for me to signal CEO transition for this great airline and ultimately to pass the baton on,"" said Hrdlicka. ""This is not a decision I have taken lightly, but the last 4 years have been heavy lifting across the organisation during the toughest of times.""
""[Hrdlicka's] leadership was fundamental to repositioning the airline back to its roots as a value carrier, returning Virgin Australia to profitability for the first time in 11 years,"" said Virgin Australia chairman Ryan Cotton. ""It has laid a strong foundation for continued growth and margin expansion that will underpin Virgin Australia’s competitive position in the Australian market.""
Hrdlicka added: ""We are in the midst of the next phase of our transformation program and there is a lot to do and an IPO to deliver. The next phase of this journey is another three to five years, making now the perfect juncture to begin the process of leadership transition to deliver the next few chapters of what I’m sure will be a significant long-term success story.""
It was announced last year that the company sought to be relisted on the stock exchange with the initial public offering (IPO) on the Australian Securities Exchange (ASX) delayed to some time this year. The airline said it will shortly commence a search process for Hrdlicka's successor who will see the company through the IPO.
Virgin Australia CEO Jayne Hrdlicka steps down
