John Borghetti, the Chief Executive Officer of Virgin Australia, has announced that he will not be renewing his contract.
The CEO’s contract will expire on 1 January 2020, however Borghetti plans to leave British conglomerate’s Australian airline subsidiary before then to allow time for recruitment.
“It is a privilege to serve as CEO of the Virgin Australia Group and to lead a wonderful team of 10,000 people,” Borghetti commented.
“By notifying the board of my intentions now, it provides them with appropriate time to conduct a thorough recruitment process and for me to support the transition.”
Borghetti has held the position of CEO at Virgin Australia for eight years, following his appointment on 8 May, 2010.
Prior to his work with Virgin, Borghetti was the Executive Manager at Qantas, a role he had for six years.
During his time at Qantas, Borghetti was responsible for the firm earning more than AU$10bn (US$7.6bn) in annual revenue and assets, which included 200 aircrafts.