Longstanding Qantas chief executive Alan Joyce will retire in November, the company announced on Tuesday.

Mr Joyce, who has been the top executive at Australia’s largest airline for 15 years, will be replaced by chief financial officer Vanessa Hudson.

Ms Hudson becomes the first female CEO in Qantas’ 103 year history.

Qantas chairman Richard Goyder said the appointment came after a rigorous selection process and will allow for a smooth transition.

“A lot of thought has gone into this succession and the Board had a number of high-quality candidates to consider,” Mr Goyder said.

“Vanessa has a deep understanding of this business after almost three decades in a range of roles both onshore and offshore, across commercial, customer and finance,” he said.

Mr Joyce’s tenure at Qantas’ helm has been defined by controversy and shepherding the airline through a several serious financial crises, the most recent of which was the grounding of air travel during COVID-19.

He has routinely drawn the ire of the Transport Workers Union (TWU), which began calling for his resignation after a series of layoffs over the pandemic, despite Qantas’ taking billions in taxpayer support.

Investors, however, have long credited Mr Joyce for keeping the national carrier afloat during the crisis, with Mr Goyder on Tuesday singing his praises.

“Much of the credit for the bright future in front of Qantas goes to Alan,” he said.

Ms Hudson, who has worked in various head-office roles at Qantas since 1994 – becoming responsible for its finances in 2019 – will start her tenure as chief executive in November after Qantas’ annual general meeting.

“It’s an absolute honour to be asked to lead the national carrier,” Ms Hudson said.

“This is an exceptional company full of incredibly talented people and it’s very well positioned for the future.”

Mr Joyce was paid $2.14 million in salary for the year ended 2022, details of his pay ahead of his retirement later this year are due in late June.

More to come.

-with AAP