ATW Daily News

Qantas CFO Gregg resigns

Wednesday August 20, 2008

Qantas CFO Peter Gregg resigned his post effective Sept. 30 and will be replaced by Deputy CFO Colin Storrie, CEO Geoff Dixon announced. The move is considered to be the beginning of a change in leadership following the appointment of Jetstar Airways CEO Alan Joyce to succeed Dixon. Australian media have been reporting that QF's senior management was stunned by Joyce's appointment and that Gregg and Executive GM John Borghetti, who were considered by some as frontrunners for the CEO position, were not given an opportunity to make a presentation to the board and were unhappy with the selection of Joyce.

Gregg was appointed CFO in September 2000 and has been integral to the airline's success over the past decade. He said: "With a new incoming CEO, I believe that signaling now my intention to step down from both my executive and nonexecutive roles is in the best interests of shareholders and the company." He will stay on until Dec. 31 to assist with the transition.

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