The early exit of embattled Qantas chief executive Alan Joyce saw the airline’s share price wobble when markets opened on Tuesday morning.
Qantas opened lower at $5.64, its lowest since early October, before lifting 1.6 per cent to $5.73 before dropping as low as 0.5 per cent before the price at open of markets.
The departing chief executive was expected the exit the national carrier in November, but mounting controversies, including legal action by the Australian Competition and Consumer Commission over allegations of illegal ticket sales, has seen the airline plagued by negative press in recent months.
“In the last few weeks, the focus on Qantas and events of the past make it clear to me that the company needs to move ahead with its renewal as a priority,” Mr Joyce said in a statement to the ASX.
Incoming chief executive Vanessa Hudson, who has previously served as airline’s chief financial officer, will take the top job from tomorrow.
Shares last traded at $5.68, up 0.5 per cent.
