what really happens at qantas ??, page-36

Hi Surfrat

Not sure I totally agree with your post - happy to acknowledge the arrogance but that might be true of most Boards (I've been on some). The difficulty I have is that we should not let ANY interest groups dictate the way the company is run. The Board is voted in by shareholders and it is their responsibility to, firstly appoint the CEO and secondly to manage the business in the best interests of the owners (us shareholders). We have the right to not vote for the Board - although retail shareholders come last when the power is dished out. It is the institutional shareholders who hold sway and unfortunately they are not as passionate as we mere mortals owing to the fact it’s not their money. But if they were, all Boards would be more accountable. I agree that the QAN Board and the CEO has let us down. Unfortunately, Board members are usually made up of Execs who don't want to work anymore and do this just to amuse themselves. Also it’s the old school tie thing as well - you can usually see the same names on several Boards.

I don't want to tell them how to run the Coy, nor should anyone else (least of all unions) but I do want some power over effecting change when it is poorly run as it is at the moment. That's why I urge everyone to have a vote and vote to get rid of these hangers on and vote down the remuneration resolution.