Virgin Australia CEO To Step Down

Virgin Australia Group has announced that chief executive John Borghetti will leave the airline at the end of his current contract in 2020.

In a statement to the Australian Stock Exchange, the airline said Borghetti had advised the board that he would not renew his contract beyond its January 1, 2020 conclusion.

Borghetti said the departure date will give the group “appropriate time to conduct a thorough recruitment process and for me to support the transition.”

Borghetti took over from launch CEO Brett Godfrey in 2010. The former Qantas executive piloted the low cost airline upmarket, including a change of name from Virgin Blue, to attract more business customers and better compete with his former employer.

Borghetti said he looked forward to continuing in the role of CEO while a successor is found and remained focussed “on delivering the goals of the Virgin Australia Group.”

The Virgin Australia board said it will now start a global search for a new chief executive.