Virgin Australia chief executive Jayne Hrdlicka will step down from her role, saying the time is right for her to “pass the baton on”.
Hrdlicka, who has been CEO of Virgin Australia since 2020, has led the airline through the challenges of administration and the COVID-19 pandemic. She said the past four years have required much “heavy lifting”. The announcement comes as the airline announced a return to profitability over the 2023 financial year.
“I have decided the time is right for me to signal CEO transition for this great airline and ultimately to pass the baton on. 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,” she said in a statement on Tuesday afternoon.
“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 3-5 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.”
Virgin Australia was acquired out of administration by Bain Capital during the pandemic. Hrdlicka said she was “very proud”of what the airline has accomplished since the “depths of administration” and through the pandemic.
Ryan Cotton, Chair of Virgin Australia, said Hrdlicka had led the airline through the most turbulent times of its 20+ year history.
“Her 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,” Cotton said.
“It has laid a strong foundation for continued growth and margin expansion that will underpin Virgin Australia’s competitive position in the Australian market. To do this required a lot of heavy lifting and the rebuild of many parts of our organisation. A big part of this was resetting our talent pipeline for the long-term, which serves us very well now.
“These are significant achievements, and we will soon commence looking for a new CEO to continue our transformation journey.”
Cotton told staff that Hrdlicka will stay on until a new chief executive could be named by the company. The board will shortly commence a global search process for a new CEO.