The airline had commissioned a review into governance amid broad dissatisfaction from customers and a barrage of legal claims last year.
Already a subscriber?Former Qantas chief executive Alan Joyce will lose more than $9 million of his pay after a board-commissioned review found mistakes made by the airline’s management created “significant reputational and customer service issues”.
Mr Joyce was appointed chief executive of Qantas in 2008, succeeding Geoff Dixon. He had run the company’s low-cost subsidiary, Jetstar, since 2003.after his departure. The company decided to withhold a long-term bonus and some short-term incentives totalling $9.26 million, Qantas told investors on Thursday morning.
In September, under pressure from aggrieved investors, Qantas said it would withhold some of Mr Joyce’s bonuses – his total package could have been up to $23.6 million for his final year at the airline – until a review had been conducted.how the board could justify a bonus for Mr Joyce given the ACCC issues, dissatisfaction among the passengers, and findings from the High Court that it illegally sacked 1700 workers.
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