Following on from a return to profitability in FY23 and a strong first half of FY24, Virgin Australia Holdings announces that Jayne Hrdlicka, with the Board’s support, has decided now is the time to transition on from the role of CEO.
After nearly four years of intensive work and transformation since the dual challenges of Administration and the onset of COVID-19, Jayne has decided that now is the right juncture to ensure that succession is in place to see the company through a future IPO and beyond.
The Board of Virgin Australia will shortly commence a global search process for a new CEO.
Ms Hrdlicka has led Virgin Australia as CEO since her appointment in 2020 after the airline was acquired out of Administration by Bain Capital and supported by Virgin Group during the COVID-19 pandemic and guided the business out of the unprecedented period of lockdown and back into the skies.
During this period the airline has been repositioned as a value carrier and rebuilt to deliver great choice and value to travellers while also returning the airline to profitability and a sustainable future. Our people have been the centrepiece of this period and have enabled a successful phase one to Virgin Australia’s transformation. Virgin Australia is underway in the second phase of its transformation, targeting continued growth and margin expansion that will underpin ongoing investment in its customer proposition, secure its long-term financial sustainability, and strengthen its competitive position in the Australian market.
Comments from Virgin Australia CEO Jayne Hrdlicka: “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. 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.”
I am very proud of what the Virgin Australia team has accomplished together since the depths of Administration and the COVID-19 pandemic. I am honoured to have been given the opportunity to guide the team to this point on its journey, and I very much look forward to seeing the continued success of Virgin Australia.