Qantas CFO quits

[Radi K]

http://www.news.com.au/business/stor...87-462,00.html

Qantas CFO Peter Gregg quits

QANTAS chief financial officer Peter Gregg has resigned, after missing out on the top job at the carrier.
Mr Gregg today announced his departure just three weeks after the company named the head of its Jetstar offshoot, Alan Joyce, as its new chief executive to replace Geoff Dixon.

Mr Gregg, 53, will be succeeded by his deputy Colin Storrie, who assumes the role and joins the board on September 30.

Mr Gregg was appointed chief financial officer and to the board of Qantas in 2000 and leaves the airline on December 31.

Earlier this year, he was pegged as one of three contenders for the chief executive job, along with the airline's executive general manager John Borghetti and Mr Joyce.

Mr Gregg said his decision was in the best interests for shareholders as the company prepares for its new chief executive, Mr Joyce, to take over.

"It has been a privilege to have contributed to the management and strategic development of this great company," he said.

"With a new incoming CEO, I believe that signalling now my intention to step down from both my executive and non-executive roles is in the best interests of shareholders and the company."

Mr Dixon said Mr Gregg had been integral to the airline's success over the past decade.

"Peter has made a wonderful contribution in both the financial and strategic directions of Qantas over the past eight years and has served the company and shareholders with distinction," Mr Dixon said.

Qantas reports its annual results on Thursday.

The group's shares finished down six cents at $3.45 today

Not a suprise after this recently. http://www.news.com.au/heraldsun/sto...75-664,00.html

[Brenden S]

Someone is upset he didn't get the CEO position.

[Daniel M]

reminds me of Peter Costello

[Sarah C]

Originally Posted by Daniel M

reminds me of Peter Costello

Good comparison.......or Gary Toomey!

There was a big story in the AFR yesterday basically saying Gregg wasn't happy with the process. The board chose the right guy in the end, Gregg was never going to hang around.

[Greg F]

Absolutely ....... Gary Toomey! dont like that man!