The administrators overseeing the sale of Virgin Australia to Bain Capital announced in a statement to the Australian Stock Exchange on 23 October that most of the airline’s board has resigned ahead of the closing of the sale.
The resignations include Chairman Elizabeth Bryan, Kenneth Dean, Trevor Bourne, Alla Houston, Judith Swales and Marvin Tan. Formal resignations have yet to be received from Raymond Gammell, Hou Wei and Kevin Xing, the airline said in the statement. The company said it had appointed Alan Hunt as a new director and said outgoing CEO Paul Scurrah and directors Warwick Negus and Alan Hunt will continue as directors until the sale is completed in November.
The administrators for Australian carrier Virgin Australia Group on 15 October announced that CEO Scurrah will step down when the airline’s sale to Bain Capital closes in November and will be replaced by former Jetstar boss Jayne Hrdlicka. The news came as unions representing various Virgin Australia employees questioned Bain’s plans for the airline once it gains complete control. Administrators were quick to respond and said in the statement announcing Scurrah’s departure that while “there has been speculation about the shape of the airline into the future…Virgin Australia will not be repositioned as a low-cost carrier. Virgin Australia will be a ‘hybrid’ airline, offering great value to customers by delivering a distinctive Virgin experience at competitive prices. This will appeal to the full spectrum of travellers, from premium corporate through to more budget-focused customers”.
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