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Qantas CEO Alan Joyce sells $11 million in shares ahead of retirement

Published 06/06/2023, 03:32 AM
Updated 06/06/2023, 04:00 AM
© Reuters. FILE PHOTO: Alan Joyce, Chief Executive Officer of Qantas, speaks with members of the media at an event celebrating Qantas' 100th birthday at Sydney Airport in Sydney, Australia, November 16, 2020. REUTERS/Loren Elliott/File Photo

(Reuters) -Australia's Qantas Airways Ltd's outgoing chief executive, Alan Joyce, on Tuesday sold A$16.9 million ($11.3 million) of shares in the airline, ahead of his retirement in November.

Joyce, who served as the airline's CEO for 15 long years, has offloaded 2.5 million shares for A$6.75 a piece, leaving him with a holding of just 228,924 in the company, according to an exchange filing.

The stake disposal by the soon-to-be former chief executive comes after the flagship carrier named finance chief Vanessa Hudson (NYSE:HUD) as its next CEO.

Hudson would make history as the first woman to ever lead the century-old airline.

© Reuters. FILE PHOTO: Alan Joyce, Chief Executive Officer of Qantas, speaks with members of the media at an event celebrating Qantas' 100th birthday at Sydney Airport in Sydney, Australia, November 16, 2020. REUTERS/Loren Elliott/File Photo

Shares in the airline finished Tuesday's session down 4.1%, marking its worst day in over 11 weeks.

($1 = 1.4995 Australian dollars)

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