Qantas Airways Ltd. executives in charge of the domestic and international full-service units will leave the company and a new chief financial officer was named in a management shake up at the Australian carrier.

Simon Hickey, chief executive officer of Qantas International, will leave “to explore new opportunities” and Lyell Strambi, who runs Qantas Domestic, will “look for new challenges outside the aviation industry,” Australia’s biggest airline said in a regulatory statement. Chief Financial Officer Gareth Evans will vacate the job for his deputy Tino La Spina.

The changes are the biggest shakeup to Qantas’s executive team since its own-brand domestic and international units were separated in 2012. Chief Executive Officer Alan Joyce said earlier this week that he intends to stay at the carrier and see through a A$2 billion ($1.7 billion) cost-cutting program. In May, Joyce announced the airline was cutting 5,000 jobs, with almost a third of that coming from management and non- operational positions.

“There is still a lot of work to build the foundation for a stronger, more sustainable and more successful Qantas,” Joyce said in the statement. “This new executive team will lead this work forward to deliver for our customers, shareholders and employees.”

Transition to the new structure will begin next year, with changes finalized by March, Qantas said in the statement.

Evans, who’s served as chief financial officer since 2010, will head up the international and freight units. Qantas International will post a profit in the six months ending December, the airline forecast Dec. 9, the first such result in any half-year since 2011.

Andrew David, currently chief operating officer of Qantas Airways, will lead the domestic unit.

Joyce, whose management of the Sydney-based company has been criticized by the country’s prime minister, said Dec. 9 the average term of Qantas chief executives had been 10 years.

To contact the reporter on this story: David Fickling in Sydney at dfickling@bloomberg.net To contact the editors responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net

Photo Credit: A Qantas 767 taking off from Perth, Australia. planegeezer / Flickr.com