Qantas Group has announced that CEO Alan Joyce will retire in November and be succeeded by current CFO Vanessa Hudson.

Hudson will formally take over after the Qantas annual general meeting on Nov. 3. Until then, she will be CEO-designate and join the board. Qantas said it will name a new CFO in the coming months.

Joyce departs after 15 years as CEO, a tenure that made him one of the global airline industry’s senior figures. His retirement is not a surprise, as he had previously committed to stay at the carrier only through 2023.

There has been much speculation about who would replace him. Hudson was regarded as one of the frontrunners.

Hudson has been at Qantas for 28 years, during which time she has held many senior executive roles including chief customer officer and SVP for the Americas and New Zealand. She has also been executive manager at various times for sales and distribution, commercial planning, and product and services.

The appointment follows a “rigorous selection process,” Qantas Board Chairman Richard Goyder said May 2. “A lot of thought has gone into this succession and the board had a number of high-quality candidates to consider, both internally and externally.”

Goyder cited Hudson’s deep understanding of the Qantas business and experience in the airline industry. He noted she has held a wide range of positions both in Australia and overseas, covering the commercial, customer and finance areas.

Hudson “has had a direct hand in shaping our strategy” as a member of the Qantas Group’s management committee over the past five years, Goyder said.

He praised her handling of the finance and treasury portfolio during the COVID-19 crisis. She led the fleet selection process in 2022 related to the renewal of the Qantas domestic jet fleet.

Goyder also paid tribute to Joyce’s tenure at the airline. During this period, Joyce has steered the carrier through multiple external shocks and crises, and also led it to several record profits, Goyder said.

“This transition is happening at a time when the Qantas Group is extremely well positioned,” Goyder continued. “We have a clear strategy, a strong balance sheet and record profitability that supports a pipeline of investment for customers, opportunities for our people and returns to shareholders.”

Joyce noted that he had extended his time as CEO, due to the board’s request, to oversee the pandemic recovery plan. “So now that we’re on the other side of that crisis it’s a logical time for me to step down,” Joyce said. “There’s still a lot I want to deliver in the next six months and at the top of that list is ensuring a smooth handover to [Hudson], who I’m sure will excel in the role.”