Qantas Airways Ltd (ASX: QAN) shares are in the red today after having closed modestly higher on Friday and Monday.
The S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $4.79 per share. At the time of writing on Tuesday, shares are swapping hands for $4.78, down 0.2%.
For some context, the ASX 200 is up 0.3% at this same time.
That's the latest Qantas share price action for you.
Now, here's what's happening with the airline's top brass.
Image source: Getty Images
Leadership restructure 'complete'
There's been no shortage of leadership changes at the ASX 200 airline in recent months.
That included the decision by long-standing CEO Alan Joyce to step down earlier than he'd planned. Amid a series of negative news events that saw Qantas shares pressured, Joyce opted to hand over the reins to incumbent CEO Vanessa Hudson on 5 September, rather than in November as previously intended.
Today's new leadership announcement is not nearly so dramatic, though nonetheless important for regional travellers and Qantas shareholders.
This morning the airline revealed that Rachel Yangoyan will replace John Gissing as CEO of its regional and charter business, QantasLink. Gissing will step down in early November but remain on in an advisory role for 12 months.
Yangoyan has served in various executive roles at Qantas for 20 years, with a recent focus on the airline's major fleet renewal.
"Rachel has a deep understanding of what it takes to run an airline and brings a lot of capability to this role," Hudson said.
Hudson continued:
As CEO of QantasLink, she'll be responsible for our regional and charter operations, which are key parts of our business and also key to the role we play in connecting remote parts of Australia.
And this is intended to be the last major leadership shakeup for some time.
"This appointment completes the new leadership team structure we announced earlier in the year, which is focused on dealing with the challenges and opportunities now in front of us," Hudson added.
Commenting on her appointment, Yangoyan said, "Qantas started in outback Australia and it's an honour to be taking on the role of QantasLink CEO.
How have Qantas shares been tracking?
After flying high into mid-August, Qantas shares have come under selling pressure over the past two months.
That sees shares now down 18% in 12 months.
