Qantas forks out another $3.4m for Joyce as executive pay revealed
Former Qantas boss Alan Joyce pocketed $3.4m 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’ 2024 financial year remuneration report, published on the ASX on Thursday morning, reveals that Joyce departed the airline in early September last year with more than $18m in base pay and bonuses, despite having approximately $9m stripped from his 2023 entitlements. The airline’s new CE Vanessa Hudson took a $1.5m pay cut, receiving $4.3m for the year to June 30, down from $6m the year prior when she was finance chief, after the board docked executive bonuses by 30% following Qantas’ dismal brand performance. Qantas lowered its CE pay by 26% when Hudson took over from Joyce, following a shareholder vote against the group’s remuneration at its annual general meeting in 2023. Jetstar boss Stephanie Tully was the next-highest-paid Qantas executive for the year, taking home $2.1m, followed closely by Qantas CFO Rob Marcolina, who made $13,000 less. Markus Svensson, the head of Qantas’ domestic arm, was paid $2m, and head of Qantas International Cameron Wallace received $1.6m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-09-12/oneworld/qantas-forks-out-another-3-4m-for-joyce-as-executive-pay-revealed
https://portal.staralliance.com/cms/logo.png
Qantas forks out another $3.4m for Joyce as executive pay revealed
Former Qantas boss Alan Joyce pocketed $3.4m 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’ 2024 financial year remuneration report, published on the ASX on Thursday morning, reveals that Joyce departed the airline in early September last year with more than $18m in base pay and bonuses, despite having approximately $9m stripped from his 2023 entitlements. The airline’s new CE Vanessa Hudson took a $1.5m pay cut, receiving $4.3m for the year to June 30, down from $6m the year prior when she was finance chief, after the board docked executive bonuses by 30% following Qantas’ dismal brand performance. Qantas lowered its CE pay by 26% when Hudson took over from Joyce, following a shareholder vote against the group’s remuneration at its annual general meeting in 2023. Jetstar boss Stephanie Tully was the next-highest-paid Qantas executive for the year, taking home $2.1m, followed closely by Qantas CFO Rob Marcolina, who made $13,000 less. Markus Svensson, the head of Qantas’ domestic arm, was paid $2m, and head of Qantas International Cameron Wallace received $1.6m. <br/>
