Virgin Australia’s CEO Paul Scurrah will step down from his position after the airline’s sale to US private equity firm Baine Capital is finalised in November. Scurrah began working for the airline in March 2019.
In a statement to the Australian Stock Exchange, Scurrah said, “Having seen the company through COVID-19, voluntary administration, the sale to Bain Capital and the redesign of the business, I will be stepping down as CEO and managing director at financial close of the DOCAs. I have made this decision after some long discussions with my family. The time feels right, and I know the business will be in good hands.”
Scurrah acknowledged the airline’s employees, saying, “I want to thank all of our team members who have continued to support and work tirelessly to get the company through to this stage. I will forever be proud of what we have done here. It is the people that make this airline the great place it is and I wish them all the best. I was extremely humbled by the warmth with which I was embraced on day one and for the unwavering support afforded to me throughout this ongoing major industry crisis.”
Bain Capital managing director Mike Murphy said, “Paul has provided the leadership to enable Virgin Australia to emerge from voluntary administration as a well-capitalised, best in class carrier. His personal commitment and determination to lead Virgin Australia through such a turbulent period is a credit to him.”
US business executive Jayne Hrdlicka, who has previously worked with Qantas and Jetstar, has been named as the next CEO of Virgin Airlines.
The company’s restructuring is said to focus on making Virgin Australia a hybrid airline that will appeal to an extended range of customers, from premium corporate travelers to budget-focused travelers.