Qantas has confirmed former chief executive Alan Joyce will not receive his full pay entitlements following a board commissioned review of the airline’s management.
Joyce, who left his role at the head of Qantas after 15 years at the helm in September, will lose $9.3 million, with the review finding the group’s management contributed to a string of failures which resulted in “considerable harm to its relationships with customers, employees and other stakeholders”.
Former Qantas chief Alan Joyce’s pay packet has been cut dramatically.Credit: Eamon Gallagher
“While there were no findings of deliberate wrongdoing, the review found that mistakes were made by the Board and management which contributed to the Group’s significant reputational and customer service issues,” the company said in a statement.
The board has also reduced the short-term bonuses of all other current and former executives who were part of the leadership team last year by 33 per cent.
Source Agencies
