👉 Background: Qantas is the national airline of Australia and is the third oldest airline in the world, But over the last few months, Qantas' legacy has been somewhat tarnished:

• There was the selling of tickets for cancelled flights
• There was the sharp spike in airfares, and Qantas's mega profit
• There was the issue of hoarding slots in Sydney and Canberra airport to stop other airlines from using them

👉 What happened: After all the controversies, CEO Alan Joyce stepped down in September... but Chairman Richard Goyder said he wasn't going anywhere. But now, Goyder will officially step down from his role after Qantas' AGM in late 2024.

👉 What else: Qantas' share price is down 22% over the last 6 months - so when your investor relations arm isn’t firing, it makes it tougher for your business to fire.

What's the key learning?

💡Investor Relations is an essential part of a publicly traded company. It is the responsibility to manage the relationship between the company and its investors.

💡With Qantas, it's clear that the board has lost investor trust. And when that happens, it becomes increasingly difficult for a company to raise capital and it also puts downward pressure on the stock price (ahem 22% share price drop).

💡The CEO and Chair both stepping down over the past couple of months shows investors that Qantas is open to listening, improving, and starting afresh.

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