Joyce has run Qantas service levels into the ground. Qantas has dropped from top 5 to 17th best airline in the world. He gets smashed left, right and centre in the court of public opinion. And yet my Qantas shares seem to be doing a tad better than my MSB shares. What is the role of the CEO? Commercially unsuccessful evangelism or shareholder return? I’m a holder, I’ve believed in the science. I don’t believe he is the right guy to navigate approval and, without that, it doesn’t matter how good it ’could’ have been. I’ll hold because I have to, not because I want to. For all those holding and saying ‘it’s not going to hurt me, I’ve made enough elsewhere’ good for you. But that’s not the case for all of us.
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