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SonicBlast

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09/08/24

15:59

Post #: 75144832
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Originally posted by DrStrangelove: ↑

https://www.sbs.com.au/news/article/alan-joyce-has-almost-10-million-shaved-off-his-final-qantas-pay/gyydzl0kp

Qantas has trimmed almost $10 million from Alan Joyce's pay packet after the former chief's early departure from the airline's top role.
A tranche of incentive-based shares he held in the airline, valued at $8.36 million at the start of the financial year, will be forfeited.
A bonus would also be cut by $900,000, Qantas said in a statement on Thursday.

The background:Joyce quit Qantas in September,
.
The airline launched a review in October after a 12-month period in which Qantas was accused of
, and found to have
during
.

A $100 million penalty is awaiting court approval for the flight cancellations, while the airline's breaches of the Fair Work Act are also being determined.

The key quote:"It's clear that we let Australians down. There is still a significant amount of work to be done to rebuild the trust of all stakeholders." — Qantas chairman-elect John Mullen on the findings of the review.
What else to know:Other executives are also facing bonus cuts after the review found the Qantas board and management contributed to significant reputational and customer service issues.
The review did not identify any deliberate wrongdoing.
What happens now:The airline's board has committed to addressing 32 recommendations set out in a report by independent business adviser Tom Saar.

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Only pocket change...

Should have lost the lot.
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Joyce, page-3

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