Qantas slashes ex-CEO’s pay package by millions


Qantas slashes ex-CEO’s pay package by millions

Friday, 09 Aug, 2024 0

Former Qantas CEO Alan Joyce has seen his golden handshake slashed by a massive $9.26 million.

Still, Joyce has still pocketed a hefty sum.

His final package of salary and shares was worth about $23.6 at the time of his resignation.

The airline announced the cut in an Australian Securities Exchange statement.

Joyce stood down almost a year ago.

He will still pocket about $14 million for the 2023 financial year.

“The events that damaged Qantas and its reputation and caused considerable harm to relationships with customers, employees and other stakeholders were due to a number of factors,” the airline said.

“While there were no findings of deliberate wrongdoing, the review found that mistakes were made by the board and management.”

It refers to the illegal sacking of workers during the pandemic and the scandal of selling thousands of flights that the airline had already knowingly cancelled.

For this, the airline was fined a total of $120 million

Members of the Qantas board will also have short-term bonuses docked by one third.

“In reaching these decisions, the board has considered the individual and collective accountability of members of the Group Management Committee,” it said.

Qantas releases its full-year results later this month. 

Related News Stories:  



Related News Stories:  



Learn more about :   Qantas ( United Kingdom )  



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges

Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail

Sophia Hyder Hock on Global Social Inclusion in Tourism
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true