Does the QF Board have the ability to build a stronger Qantas?

[russ]

Building a weaker Qantas

I just received an ALAEA notice from a friend who thought I might be silly enough to own QF shares.

Firstly, I didn't realise that most of the current Board members had been there for so long:

Background - The Board
The board of the Company has, in recent years presided over a significant destruction in the value of shareholders' interests in the company.

1. The current Chairman, Leigh Clifford was appointed as Chairman on 9 August 2007.
2. The current Chief Executive Officer, Alan Joyce was appointed on 28 July 2008.
3. The remaining directors were appointed on the following dates;
   1. John Schubert – 23 October 2000
   2. Patricia Cross- Meadows – 1 January 2004
   3. Garry Hounsell – 1 January 2005
   4. Peter Cosgrove – 6 July 2005
   5. James Strong – 1 July 2006
   6. Barbara Ward – 19 June 2008
   7. Paul Rayner – 16 July 2008
   8. Corinne Namblard – 16 June 2011

Secondly, when you list all the debacles during their tenure, it doesn't look good:

Share Price and Dividend performance

1. At the close of trading on the date of appointment of Leigh Clifford the Qantas share price was $5.62.
2. At the close of trading on the date of the appointment of Alan Joyce the Qantas share price was $3.43.
3. As at the date of this notice the share price is $1.45.

The performance of the current board
The loss of shareholder value has coincided with or occurred in the same period where the following events have taken place:

• The company has incurred fines arising from unlawful cartel behaviour.
• Management has failed to develop cooperative working relationships with its labour force. Most recently this has led to a situation whereby 3 major groups of employees are engaging in industrial action against the company.
• New aircraft have been ordered but not delivered and instead of using aircraft such as the Boeing 777 which competitors in and out of Australia have used with great financial success; the company has been left behind.
• There have been several engine failures and a number of serious safety incidents.
• Readers Digest Annual Most Trusted Brands survey has revealed that Qantas, once the most recognisable and trusted brand in the country, has fallen out of the top 40.

URGENT NOTICE TO ALL QANTAS SHAREHOLDERS

I think the current Board should go. What do you think?

 

[ChrisCunard]

Qantas AGM Vote of "No Confidence"

It seems as if at the next AGM there will be a vote of no confidence in the Qantas Chairman and CEO.

Some articles:

http://www.alaea.asn.au/attachments/article/288/Attachment 1 - statement pdf.pdf
URGENT NOTICE TO ALL QANTAS SHAREHOLDERS
Qantas moves towards closer tie-up | American Airlines

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In light of this:

Regardless of whether you like the man or not, given the huge amount of bad press, the apparent lack of respect for the CEO by Pilots, Engineers and Cabin Crew and the ongoing public brawl between management and staff, do you think Alan Joyce should step down?

Thoughts?

 

[russ]

Re: Qantas AGM Vote of "No Confidence"

Thoughts?

My thought is to use the existing thread: http://www.australianfrequentflyer....program/does-qf-board-have-ability-32395.html

 

[Alanslegal]

Re: Qantas AGM Vote of "No Confidence"

In light of this:

Regardless of whether you like the man or not, given the huge amount of bad press, the apparent lack of respect for the CEO by Pilots, Engineers and Cabin Crew and the ongoing public brawl between management and staff, do you think Alan Joyce should step down?

Thoughts?

Similarly, its like the current Gillard Government. Nobody likes her (or even gives her half a chance) but sadly Abbott is not going to do any better. (give me Hockey or Turnbull anyday). No vision, no policies yet a truckload of fear and scaremongering, and that will only get you so far.

QF wants to be progressive and move forward with the times that aviation is a really global marketplace .... yet nobody wants to part of it. I can understand why QantAsia is important because it is there to try and suck some of the money in the travel growth around that Asia region. Domestically there is only so much growth, and its only sheer luck that QF doesn't really have a stronger domestic competitor otherwise their current strangehold will be in trouble.

 

[Noob]

Re: Qantas AGM Vote of "No Confidence"

.... the apparent lack of respect for the CEO by Pilots, Engineers and Cabin Crew and the ongoing public brawl between management and staff, do you think Alan Joyce should step down?

Thoughts?

One must show respect to their staff if they wish to be respected by their staff....

Respect should not be expected it must be gained.

 

[ChrisCunard]

Re: Qantas AGM Vote of "No Confidence"

My thought is to use the existing thread: http://www.australianfrequentflyer....program/does-qf-board-have-ability-32395.html

Thanks for the input...

Perhaps a mod can move it - I hadn't picked up on the other topic given it's a poll...

 

[Robert K]

the top 20 shareholders hold 82% of the shares. All institutions.

so good luck getting anything through.

might want to add another option in the poll. "Won't make a difference"

 

[harvyk]

the top 20 shareholders hold 82% of the shares. All institutions.

so good luck getting anything through.

might want to add another option in the poll. "Won't make a difference"

True, but if there is a move to remove AJ from the top job chances are some of those 20 shareholders have lost confidence in AJ. It's rare that a small time investor pushes through something like this. (Small time investors usually just cut their losses)