Alan Joyce to leave Qantas immediately

[RooFlyer]

Oh, and the Australian reports that Mr. Joyce is still in line for a 2024 payout.

pretty extraordinary, but I guess that’s the contract the board signed with him.

 

[ausfox]

Being reported that AJ misses out on $9+ million in bonuses.

 

[Quickstatus]

And I ask again. Why does anyone like that need bonuses to do their job

 

[Must...Fly!]

And I ask again. Why does anyone like that need bonuses to do their job

Hazard pay for doing the illegal bidding of the board?

I'm joking.

Or am I?

Accountability is hard to come by, that is certain.

 

[Quickstatus]

Accountability is hard to come by, that is certain.

Appears to be.

What we don't know are the reflections of each INDIVIDUAL on the Qantas Board and the group Leadership team and their acknowledgement of their contribution to the damage.

 

[Saab34]

The board is the issue also. Please turf them out. Hopefully the new chair makes some harsh calls. This can’t be just business as usual for QF moving forward.

I nearly fell over when they employed the ex American Boss to the board. It’s just a retirement job.

Hopefully New Chair, means new Board and New Management. I note QF have been doing all the management moves before the new chair arrives, trying to show it’s all under control I guess. Hopefully he sees through this.

 

[Franky]

Hazard pay for doing the illegal bidding of the board?

I'm joking.

Or am I?

Accountability is hard to come by, that is certain.

SSHHH - I happen to occasionally sit next to the QF Chairman at my local hair dresser in North Fremantle...

 

[dylarr]

The full report is surprisingly frank and forthcoming (by Qantas standards), although none of the content would surprise anyone in the slightest.

Full report is here:

https://www.qantasnewsroom.com.au/wp-content/uploads/2024/08/QANTAS-BOARD-GOVERNANCE-REVIEW-REPORT.pdf

 

[Saab34]

The full report is surprisingly frank and forthcoming (by Qantas standards), although none of the content would surprise anyone in the slightest.

Full report is here:

https://www.qantasnewsroom.com.au/wp-content/uploads/2024/08/QANTAS-BOARD-GOVERNANCE-REVIEW-REPORT.pdf

The current CEOs role is essentially untenable reading that. How on earth can she remain.

 

[dajop]

It’s just a retirement job.

I had assumed that's exactly what many board positions are, in many companies. Retirement jobs for the "old boys" network?

 

[RooFlyer]

The current CEOs role is essentially untenable reading that. How on earth can she remain.

Someone here predicted from the start that she would only last a year, until the new Chairman took over; I disagreed but now tending to your view. Would be interesting to see the incoming Chairman's travel diary over the past year

 

[jb747]

The feedback I hear from those still there is that she is loathed, not quite to the degree of Joyce, but slowly ramping up. I presume that in this management-speak, regaining some level of trust with the staff simply isn’t a priority at all. I guess they aren’t stakeholders. And, also, the Irish leach will be picking up bonus payments over multiple years to come.

 

[MARTINE]

Appears to be.

What we don't know are the reflections of each INDIVIDUAL on the Qantas Board and the group Leadership team and their acknowledgement of their contribution to the damage.

View attachment 401261

This could be a cut and paste of so many word salads of these customer pledges - since time immemorial.

Long on commitment — short on actions with timelines and consequences for not doing what they say they will.

Keep ‘actively working with management’ to ‘understand the lessons’ and ‘identify actions’.

Our domestic choices are really limited.

 

[CaptainCurtis]

The Board should introduce a broader lens and more rigorous process for performance reviews of the Group CEO and, in turn, the CEO’s review of the Group Leadership Team.

Yikes, says a lot without saying much.

 

[Gold Member]

Being reported that AJ misses out on $9+ million in bonuses.

Awww, how on earth will he survive?

This is how - Alan Joyce’s $20m win despite huge Qantas pay cut - realestate.com.au

And this doesn’t even touch on the vast wealth accumulated outside of his luxurious abodes.

 

[Gold Member]

Gary has a nice piece reminding us of some hard hitting facts that are often overlooked (or worse still defended against due to commercial and political motivations and incentives here on AFF)

Qantas Board Slashes Ex-CEO Bonuses: Just a Smokescreen For Government Protection Racket? - View from the Wing

Qantas CEO Alan Joyce had to symbolically take the fall for the tragic decline in reputation and treatment of customers during and coming out of the pandemic. He was retiring anyway so he resigned two months early. This had basically no effect on him or on the airline, but was played as though...

viewfromthewing.com

 

[Himeno]

Can QF give me the money they aren't giving Joyce?

 

[RooFlyer]

Gary has a nice piece reminding us of some hard hitting facts that are often overlooked (or worse still defended against due to commercial and political motivations and incentives here on AFF)

Qantas Board Slashes Ex-CEO Bonuses: Just a Smokescreen For Government Protection Racket? - View from the Wing

Qantas CEO Alan Joyce had to symbolically take the fall for the tragic decline in reputation and treatment of customers during and coming out of the pandemic. He was retiring anyway so he resigned two months early. This had basically no effect on him or on the airline, but was played as though...

viewfromthewing.com

Ouch!

 

[GarrettM]

If the figures included in this ABC piece are correct, and my maths is relatively up to scratch, QF's earnings over AJ's 16-years at the helm are $7m in the red. Obviously some government assistance isn't being accounted for, because no CEO would survive that surely.

'Mistakes were made': Why Joyce's remuneration package is under the spotlight

As the dust settles on his ignominious departure last year, the grim reality is that – even after the so-called penalty – Joyce will still walk away with about $13 million for his final year.

www.abc.net.au

 

[Quickstatus]

This could be a cut and paste of so many word salads of these customer pledges - since time immemorial.

Yes. The whole review was the product of workshopping between Board and Management Teams

Lots of management speak. Light on detail

In other words just a standard Qantas "enhancement".