RMIT expert available for comment on the departure of Virgin Australia CEO

RMIT expert available for comment on the departure of Virgin Australia CEO

An expert from RMIT University is available to talk to media about news that Virgin Australia CEO Paul Scurrah is to step down.

Warren Staples (0407 584 564 or warren.staples@rmit.edu.au)

Topics: corporate governance, business ethics, CSR, business and government relations

"Virgin Australia boss Paul Scurrah has been an influential public face and generated significant goodwill in the transition to new owners Bain Capital.

"The replacement of Paul Scurrah by ex-Jetstar CEO Jayne Hrdlicka signals that Bain are looking to slash costs, improve the balance sheet, and exit via listing or making a quick sale - a classic pump and dump strategy.

"If Virgin do head down the lowest cost path then it's hard to see this price war with Jetstar ending successfully for them.  It feels like the worst of Australian aviation history repeating.

"In a worrying sign that corporate Australia is perhaps too forgiving, Richard Branson has returned as a 5% shareholder while paying for none of the cost of the previous iteration of Virgin's failure.”

Warren Staples is a Senior Lecturer in the School of Management at RMIT University whose research and teaching focuses on corporate governance, corporate social responsibility, business ethics and business & government relations.

***

For media enquiries, please contact RMIT Communications: 0439 704 077 or news@rmit.edu.au

 

17 October 2020

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17 October 2020

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