Margaret Jackson
From Wikipedia, the free encyclopedia
| Margaret Jackson | |
 Margaret Jackson, Chairman of Qantas Airways
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| Born | 1953 |
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| Occupation | Company Director |
Margaret Jackson AC (born March 17, 1953) is an Australian corporate executive. Jackson was born in Warragul, Victoria and educated at Warragul High School. She studied a Bachelor of Economics at Monash University and a Master of Business Administration at Melbourne University. She is a Chartered Accountant and a Fellow of the Institute of Chartered Accountants in Australia.
Jackson has been chairman of Qantas since 2000 and was the first woman to become chairman of a top-50 publicly listed company in Australia. She has been a director of Qantas since 1992 and her other directorships include ANZ since 1994 and Billabong.
Jackson is a former partner of accounting firm KPMG and has also worked for accounting firms BDO Nelson Parkhill and Pricewaterhouse (now PricewaterhouseCoopers).
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[edit] Personal life
Jackson is married to Roger Donazzan and they have 2 children - Matthew (22) and Lauren Donazzan (18).[citation needed]
[edit] Controversy regarding Qantas takeover bid
In early May, 2007, Jackson faced mounting pressure to resign from the board of Qantas after the dramatic last minute failure of the Qantas takeover bid by Airline Partners Australia. After the bid failed she faced criticism that she had undervalued the airline, was reluctant to release upgraded profit forecasts, and did not act in the best interests of the majority of shareholders. [1] Jackson was one of the most outspoken supporters for the takeover bid and when asked of the ramifications of the bid failing, she famously stated, "If anyone thinks this will happen without affecting the (share) price then they have a mental problem with how the market works."[2] This was interpreted by some observers as an insult to shareholders and evidence that Jackson was actively lobbying for the takeover consortium.
A number of highly respected businesspeople and personalities have spoken out in support of Jackson including Sir Rod Eddington (Former British Airways CEO) [3] and former Victorian Premier Jeff Kennett. [4]
As of February 2008 some opinions regarding Jackson's controversial support of the bid have shifted - following the sub-prime induced global market falls and amongst increasing difficulties in the airlines trading conditions such as higher oil prices, increased competition and a loss of monopoly control over key international routes. Some media commentators such as Jennifer Hewett have suggested Jackson may have been correct in her assertions that the takeover offer was a good deal for shareholders [5].
[edit] Resignation
On 17 May 2007, Jackson informed the Qantas board that "she will retire from the board when her term ends at this year's AGM (to be held in November 2007)"[6][7]. The board has thrown its support behind Jackson's decision to stay on until then because it ensures "continuity and stability" is maintained in the company[8].
John Howard, the Australian Prime Minister, on Jackson and her retirement decision;[9]
Well I will make a comment. It’s her decision. I regard Margaret Jackson as an outstanding business figure. I am not going to comment on the nuances or ins and outs of the Qantas bid, but let me say that I think Margaret Jackson has been a person of great ability and great integrity and she will remain a very significant figure in the Australian business community. The question of whether she continues as Chairman of Qantas is, of course, a matter for her. I am not going to make a comment on that. I have got a lot of confidence in her and I have got a lot of regard for her and she has always struck me as a person of high intelligence and great integrity.
[edit] References
- ^ "Mental as anything - Maj tells of the passion", May 12, 2007. Retrieved on 2007-05-13.
- ^ "Qantas warning over takeover bid.", March 21, 2007. Retrieved on 2007-05-13.
- ^ "'Don't quit' plea to Qantas boss", May 17, 2007. Retrieved on 2007-05-17.
- ^ "Former Victorian premier Jeff Kennett defends Qantas chair", May 7, 2007. Retrieved on 2007-05-13.
- ^ "'Who's looking mental now?", February 20, 2008. Retrieved on 2008-02-20.
- ^ "Jackson to quit Qantas board", May 17, 2007. Retrieved on 2007-05-18.
- ^ Qantas chair Margaret Jackson to retire via ninemsn.com.au 17 May 2007
- ^ "Qantas boss to quit post", May 18, 2007. Retrieved on 2007-05-18.
- ^ "Packer quits Qantas Board", May 18, 2007. Retrieved on 2007-05-21.
