Virgin Australia chairman Neil Chatfield to step down

Virgin Australia chairman Neil Chatfield. (Virgin Australia)

Virgin Australia is on the lookout for a new chairman, with Neil Chatfield to step down from the board after eight years as a director.

Chatfield, who was appointed a Virgin Australia director May 2006 and named chairman in June the following year, says he will remain on the board until the new chairman comes in.

“After seven years as chairman, having seen through the company’s transformation to a diversified airline group under the leadership of chief executive John Borghetti and the successful completion of the game change program strategy, I believe that now is a good time to transition to a new chairman,” Chatfield said in a statement on Tuesday.

“I will remain chairman for as long as it takes to find a suitable replacement for the role and am committed to supporting the recruitment process.”

Chatfield was intending to stand for re-election at November’s annual general meeting “to ensure the stability of the board while the search for a new chairman is underway”, Virgin said.

The chief executives of Virgin’s three major airline shareholders Singapore Airlines, Air New Zealand and Etihad have recently joined the board, with Goh Choon Phong, Christopher Luxon and James Hogan taking their seats as directors in July this year.

“I believe the board, chief executive and executive team are in a strong position to guide the company into the future,” Chatfield said.

Chatfield was also a director at road toll company Transurban and information management business Recall, as well as chairman of employment website Seek.