VA CEO recruitment update
VIRGIN Australia Chairman Elizabeth Bryan today confirmed the ongoing search for the airline’s new CEO was proceeding, saying she had been “pleased with the high level of interest from quality candidates both domestically and internationally”.
Addressing the VA Annual General Meeting, Bryan reaffirmed Borghetti’s earlier announcement that he would like to step down as CEO by Jan 2020, noting he remained “fully focused on leading the company” in the meantime.
The VA Chairman also reiterated the Board’s position that it was “not appropriate to privatise the business at this time,” and noted that almost 20,000 shareholders had chosen to participate in an “unmarketable parcel” buyback facility launched earlier this year.
The AGM also included a presentation from Borghetti, who said the company was now on a “clear path towards sustainable profitability” after reporting a $653.3 million after-tax loss for the year, largely impacted by noncash adjustments.
He said domestic operations had performed particularly well, with VA “continuing to challenge the status quo and raise standards”.