Virgin Australia board resigns en masse

Nine members of Virgin Australia’s board, including chairperson Elizabeth Bryan, have tendered or indicated their resignations, while the airline finalises a sale to Bain Capital. Bryan and five others – Trevor Bourne, Kenneth Dean, Allan Houston, Judith Swales, and Marvin Tan – have resigned as the company’s directors effective 20 October, the company said today in a disclosure to the Australian Securities Exchange. It adds that the company has yet to receive formal resignations from three other directors – Raymond Gammell, Hou Wei, and Kevin Xing. “Accordingly, so as to ensure that reconstitution of the board takes effect immediately, the deed administrators have exercised their powers to replace those directors who cease to hold office as a director on today’s date,” Virgin Australia states. The airline’s website indicates the company had 11 board members, including outgoing chief executive Paul Scurrah and non-executive director Warwick Negus.<br/>