On Thursday, the Australian Shareholders’ Association said it would vote against Vanessa Hudson’s appointment as a director of the business and as chief executive of Qantas (QAN.AX).
In May of this year, Hudson, who had previously served as the national carrier’s chief financial officer, was chosen as the position’s first female CEO, succeeding Alan Joyce. View More
The carrier faces many legal and regulatory actions, prompting Joyce and chairman Richard Goyder to retire.
On November 3, Qantas will host its annual general meeting.
The shareholders’ association said in a statement that this motion “should be voted against until Vanessa Hudson has proven herself in the role” since Vanessa Hudson “has been a member of the executive while the issues… have been allowed to occur.”
The organization plans to support Doug Parker’s candidacy for the board of directors as a director. Parker was the former CEO of American Airlines (AAL.O).
A Reuters request for comment made outside of business hours did not immediately receive a response from Qantas. The national carrier’s stock has lost over 21% of its value this year. On Thursday, a 2.5% decline was seen.
In conclusion, the Australian Shareholders Association’s decision to oppose the nomination of the Qantas CEO to the board of directors signals a turning point for the aerospace and military sector.
This choice can potentially change the business dynamics by highlighting how crucial accountability, transparency, and ethical governance are. Collaboration and proactive tactics are essential for the industry’s future success as it adjusts to these developments. The aerospace and military industry is about technological developments and responsible leadership and governance, as shown by ASA’s shareholder activism.
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