Alan Joyce Qantas Leadership Review Resulting in Pay Cuts
Alan Joyce Qantas Leadership and Pay Review
Qantas has trimmed millions of dollars from Alan Joyce's departing pay packet after the former chief took off early from the airline he is accused of running under a command and control approach. Other executives and directors also face a cut following a review after brand turbulence triggered Mr. Joyce's departure in September.
Governance Review Findings
- A review of Qantas' governance concluded that the airline was run with an overly deferential board.
- Mr. Joyce's leadership style centralized decision-making, raising concerns about its impact on the airline's reputation.
Mr. Joyce will forfeit over one million incentive-based shares and lose a $900,000 bonus. The total potential clawback from his $21.4 million package is up to $14.4 million.
Future Implications for Qantas
As Qantas seeks to regain trust, a more balanced approach to executive pay is recommended, reflecting market-leading practices. The airline's chairman-elect, John Mullen, acknowledged significant work is needed to restore stakeholder confidence.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.