Virgin Australia (ASX:VAH) has announced CEO John Borghetti will leave his role in 2020.
The airline says Mr Borghetti will not renew his contract after January 2020, giving it ample time to recruit a replacement.
The company has thanked the outgoing CEO for his enormous contribution to Virgin Australia.
Attempts to privatize the company earlier this year failed with the company buying up thousands of small shareholdings.
Shares in Virgin Australia (ASX:VAH) closed down 2.27 per cent lower to 21.5 cents on Friday