Former Qantas boss Alan Joyce received $3.4 million for his last two months in the job. In his last two years,he took home nearly $20 million.
For the first time in living memory,Qantas shareholders took a hit for the team. That said,it wasn’t a big one.
The financial successes that spawned Alan Joyce’s cult-like following among investors ultimately led to the former CEO having largely unfettered decision-making power.
Qantas had been under pressure from politicians,investors,employees and customers to claw back about $11 million of Joyce’s bonuses from his final pay packet.
The whole fast-living schtick that made the celebrity real estate agent’s show such a hit has come to bite.
The airline has enlisted an influential governance expert to advise on whether to claw back up to $16 million from the former CEO’s performance-based pay entitlement.
This time Qatar has a lot more support for gaining extra flights to Australia. A conga line of competition economists and tourism operators will be watching closely.
To suggest that the airline’s settlement over the ghost flights matter makes Qantas a trustworthy company is to be wilfully blind to its recent history.
Vanessa Hudson has taken on the Herculean task of trying to restore the relationship with Qantas customers and staff – and reweight the division of the spoils.
The Aussie off-shoot of America’s “conservative Coachella” went on pilgrimage to experience the real thing in Washington,DC.
The febrile hunt for profiteers in the midst of a cost-of-living crisis meant Australia’s largest companies had to worry about the potentially disastrous consequences of doing too well.