Is there light at the end of the tunnel for Qantas?

[Foreigner]

From today's SMH:

For the love of Qantas, sack Alan Joyce

Tough business, airline business...poor stewardship is the enemy within...

Is it just the CEO or also the Board above him that needs to go?

Here is Buffett's take:

Airline Investors Should Heed Warren Buffett's Wisdom

 

[markis10]

There certainly seems to a rising season of discontent, perhaps some old faces are once again stirring the pot to make some short term gains?

 

[VHOEJ]

Board makes the main decisions - they are the ones who have to go. Even if you replace Joyce, the CEO is just a puppet for the board so nothing will change.

 

[codash1099]

That light at the end of the tunnel is an oncoming train.

 

[straitman]

That light at the end of the tunnel is an oncoming train.

Unfortunately I have to agree that it certainly looks that way.

 

[medhead]

Board makes the main decisions - they are the ones who have to go. Even if you replace Joyce, the CEO is just a puppet for the board so nothing will change.

It's not really like that. The CEO proposes direction/decision to the board or either approve or not. The reality is the CEO sets his direction and implements it once the board approve.

CEO: "this is how I want to run the company"
Board: "Sounds good. Off you go and do it" or "nope, give us another plan"

 

[casanovawa]

If you keep wounding the company then eventually one of your competitors will land a knock out blow, does anyone know what his and the board's vision for the company is?? There have been so many miscues are theys till tracking on any previous path?? How can you tell if an action is taking it in the right direction and how do you motivate staff and investors to suffer some pain if there is no longer term vision of what the airline could be at its best???

He may have announced something but it certainly isn't visionary enough that it sticks in myy head of "Oh yeah, this is what QF will look like in 5 years or 10 years or next month and won't that be great etc, etc"

 

[lovestotravel]

Board makes the main decisions - they are the ones who have to go. Even if you replace Joyce, the CEO is just a puppet for the board so nothing will change.

Yep Joyce is simply doing what the board wants, it's why he is paid very well for doing such a bad job..

I do laugh when people scream for Joyce to be sacked

The board needs to GO

 

[lovestotravel]

If you keep wounding the company then eventually one of your competitors will land a knock out blow, does anyone know what his and the board's vision for the company is??

Screw QF into the ground
Sack all QF staff
Re-hire under new agreements which are far cheaper

It's the whole reason why they scream again and again that JQ is profitable, and QF is not... even though QF pays for so many JQ items such as the 10+ A320's that JQ HK can't fly.. LOL

 

[casanovawa]

Yep Joyce is simply doing what the board wants, it's why he is paid very well for doing such a bad job..

I do laugh when people scream for Joyce to be sacked

The board needs to GO

While the board is there to approve higher strategy and monitor things on behalf of the share holders interests, there is no way they should be making day to day and even longer term strategy as such in a vaccum then telling the CEO what to do if they half know what they are doing... Don't know the indivduals on the QF board specifically but none of them have an airline background do they?

They might be very good at what they do in their own industries and have a good understanding of balance sheets and asset allcoation and all that other stuff, but the CEO of a given company is there because they either have long term experience in the industry or because you bring them in short term to do a job like sacking and retrenching and right sizing which probably needs a different skill set to long term management/leadership... You don't bring in a knee capper and then make them CEO for 5-10 years do you??? Where is the sense in that...

So if the person who is CEO and knows their industry and competitors and should know how to move their company and staff and investors to where they want to be can't influence the board and just acts as an underling to carry out details orders and instructions from the board, then they probably shouldn't be there... Next!!!

 

[Foreigner]

While the board is there to approve higher strategy and monitor things on behalf of the share holders interests, there is no way they should be making day to day and even longer term strategy as such in a vaccum then telling the CEO what to do if they half know what they are doing... Don't know the indivduals on the QF board specifically but none of them have an airline background do they?

They might be very good at what they do in their own industries and have a good understanding of balance sheets and asset allcoation and all that other stuff, but the CEO of a given company is there because they either have long term experience in the industry or because you bring them in short term to do a job like sacking and retrenching and right sizing which probably needs a different skill set to long term management/leadership... You don't bring in a knee capper and then make them CEO for 5-10 years do you??? Where is the sense in that...

So if the person who is CEO and knows their industry and competitors and should know how to move their company and staff and investors to where they want to be can't influence the board and just acts as an underling to carry out details orders and instructions from the board, then they probably shouldn't be there... Next!!!

Hmm...wouldn't the disastrous shutdown of November 2011 have had tacit approval of the chairman or the board? Many CEOs have ruined their businesses that should have thrived.

 

[casanovawa]

Yes, to take that shut down action probably would have required board approval or at least knowledge, but he has been there since 2008 hasn't he??? And if staff reduction and loss of entitlements is the way to go, do you really need to drag that pain out for 6-7 years???

He should be driving the vision and the strategy and convincing the board of how good his vision is, if all he does is take orders from the board then something is wrong (clearly)... And if all the potential start ups and side projects go pear shaped the same should probably happen...

The board probably needs a clear out as well, but the CEO obvously has a pivotal role to play in the short and long term running of any company...

 

[VA777]

There is a reasonable amount of airline plus infrastructure experience on the board. Their details are in the QF web site.

 

[medhead]

Hmm...wouldn't the disastrous shutdown of November 2011 have had tacit approval of the chairman or the board? Many CEOs have ruined their businesses that should have thrived.

The point remains that Joyce would have taken the shut down to the board for approval. It was his plan even if the board did approve the action.

 

[JohnK]

CEO needs to go first.

 

[jetlagger]

CEO needs to go first.

That's well overdue.. :!:

 

[drron]

That light at the end of the tunnel is an oncoming train.

Utter rubbish.
The lights are those of an EK A380.

 

[Happy Trails]

Utter rubbish.
The lights are those of an EK A380.

Or a search party looking for the remains.