Virgin Group changes representative on Virgin Australia board

VIRGIN AUSTRALIA AIRCRAFT SYD APR15 RF 5K5A1324
Virgin Australia has a new board member. (Rob Finlayson)

UK-based Virgin Group has replaced its representative on the Virgin Australia board.

Virgin Australia said in a statement on Tuesday John Patrick (JP) Moorhead has stepped down from the board, effective immediately.

He has been replaced by Warwick Negus as Virgin Group’s nominated representative.

Negus is currently a board member of Australian Securities Exchange-listed companies Washington H Soul Pattinson and Bank of Queensland. Previously, he was the chief executive of fund manager Colonial First State Global Asset Management and has also worked at Goldman Sachs.

Moorhead was chief financial officer at Virgin Group until September, when he resigned to become chief operating officer at investment company Eight Roads.

He has served a little over a year on the Virgin Australia board, having been appointed as a director on September 22 2015.

Virgin Group holds about eight per cent of Virgin Australia shares and is one of the airline’s major shareholders alongside Etihad Airways, Singapore Airlines, HNA Group and Nanshan.

Comments

  1. Martin says

    Bart, I’m also a shareholder too and I do wonder why they always discount their airfares. When I see these cheap specials advertised I think to myself: there goes away any chance of a dividend.
    When things get tough VA can’t go knocking on the doors of power in Canberra like another airline does.

  2. Jonathan Ventham says

    no longer a shareholder.
    wallowing share price, no dividends and lackadaisical management finally put me off

  3. Roger Ramjet says

    Yep, you would be a fool to hold onto VA shares now, considering massive debt, a constant increasing management staff with excessive wages….all while trying to strip the crew’s of their pay and conditions….. And to boot, we have a Tigerair model, swapping fleets! Thats a disastrous move in the short to medium term! Just when Tiger was making money, they will now strip the profit and upset the apple cart to replace efficient Airbus a/c with old Boeing’s!!! what the hell is the CEO thinking when he thought he could pull that stunt off with the incompetent display of TT and VA management over the past 5 years!!!
    LOL the VA model is a joke and JB has to go!