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.
Former Qantas boss Alan Joyce pocketed $3.4 million for his last two months in the role before he left the company amid a string of scandals and a damning governance review, which found the business had a top-down culture with “too much deference to a long-tenured CEO”.
Qantas’ remuneration report for the 2024 financial year, published on the ASX on Thursday morning, reveals Joyce walked away from the airline in early September last year with more than $18 million in base pay and bonuses, even after QantasThe airline’s new chief executive Vanessa Hudson took a $1.5 million pay cut, receiving $4.
“The board has listened to feedback on the pay structure for our executives and have made a series of changes which we are confident will encourage better outcomes for our stakeholders,” Goyder said. Qantas increased the weighting on customer outcomes from 20 to 30 per cent for annual bonuses and will now consider brand reputation as a performance measure for long-term incentives.when accounting for his $2.2 million base salary and the total sum of short- and long-term incentive entitlements. He will retain pro rata entitlements for future long-term bonuses, which will convert to shares if the company meets its performance goals.
Qantas recently received a damning governance review, which found it had a top-down culture causing “considerable harm to its relationships with customers, employees and other stakeholders”.
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