{"id":110151,"date":"2024-08-08T03:12:04","date_gmt":"2024-08-08T03:12:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/08\/australian-flag-carrier-slashes-exit-pay-of-former-boss-alan-joyce\/"},"modified":"2024-08-08T03:12:04","modified_gmt":"2024-08-08T03:12:04","slug":"australian-flag-carrier-slashes-exit-pay-of-former-boss-alan-joyce","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/08\/australian-flag-carrier-slashes-exit-pay-of-former-boss-alan-joyce\/","title":{"rendered":"Australian flag carrier slashes exit pay of former boss Alan Joyce"},"content":{"rendered":"
\"Australian<\/div>


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Australian airline Qantas says it will cut the exit package of its former chief executive Alan Joyce after a series of scandals and costly legal cases that resulted from decisions made during his tenure.<\/p>\n

The A$21.4m ($14m; \u00a311m) payout Mr Joyce was due to get after leaving the firm last year will be cut by A$9.26m, the company has told investors.<\/p>\n

The firm also says that other current and former senior executives will see their short-term incentives cut by 33%.<\/p>\n

The announcement came on the same day as Qantas released the findings of a review of a number of problems faced by the firm during Mr Joyce’s time in charge.<\/p>\n<\/div>\n

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\u201cThe events that damaged Qantas and its reputation and caused considerable harm to relationships with customers, employees and other stakeholders were due to a number of factors,\u201d the airline said.<\/p>\n

\u201cWhile there were no findings of deliberate wrongdoing, the review found that mistakes were made by the Board and management”.<\/p>\n

Mr Joyce, who was chief executive for 15 years, led the company through the 2008 global financial crisis, the pandemic and record fuel prices.<\/p>\n

However, by the time he stepped down in 2023, Qantas was facing growing public anger over high fares, mass delays and cancellations, and its treatment of workers.<\/p>\n

Mr Joyce’s successor, Vanessa Hudson became the first woman to lead the airline when she became chief executive in September last year.<\/p>\n

He had been set to leave the firm in November but stepped down two months earlier than expected.<\/p>\n

At the time, Mr Joyce said recent attention on “events of the past” made it clear this is “the best thing” he could do.<\/p>\n

The airline has been the subject of growing public anger after reaping record profits despite a series of scandals.<\/p>\n

Last year, Qantas lost a High Court case over the sacking of staff during the pandemic. <\/p>\n

In May, it also agreed to pay A$120m to settle a lawsuit over the sale of thousands of tickets for flights that had already been cancelled.<\/p>\n<\/div>\n


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Australian airline Qantas says it will cut the exit package of its former chief executive Alan Joyce after a series of scandals and costly legal cases that resulted from decisions made during his tenure. The A$21.4m ($14m; \u00a311m) payout Mr Joyce was due to get after leaving the firm last year will be cut by […]<\/p>\n","protected":false},"author":2,"featured_media":110152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/6a22\/live\/ebe25d90-5520-11ef-bc04-21f6b5718963.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[8747,755,791,16253,6556,9941,90795,795,18946],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/110151"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=110151"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/110151\/revisions"}],"predecessor-version":[{"id":110153,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/110151\/revisions\/110153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/110152"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=110151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=110151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=110151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}