Business
Union suspends Virgin negotiations, seeking assurances on CEO – The Australian Financial Review
The Transport Workers Union has walked away from talks with Virgin, until new owner Bain Capital confirms it isn’t planning to replace chief executive Paul Scur…
A spokesman for Bain Capital, which counts the Future Fund among its investors, declined to comment or express confidence in Mr Scurrah’s role as chief executive. A spokesman for Virgin said the company didn’t comment on speculation.
CAPA executive chairman Peter Harbison questioned the logic of Bain Capital taking Virgin too far away from its public plans, saying that the savings from reconfiguring planes and other tweaks would be limited and the business market would eventually return.
“The …
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