Millions taken out of the former Qantas boss's leaving pay.
A$9.26 million is being taken out of Alan Joyce's leaving deal.
Air Australia The former CEO of Qantas will receive a smaller leave payment following a string of scandals and expensive court proceedings.
The business has informed investors that Alan Joyce's multi-million dollar compensation will be reduced by more than 40%. Moreover, Qantas will reduce by a third the short-term incentives given to senior executives, both current and past.
Simultaneously, Qantas made public the results of an examination of the management of the business under Mr. Joyce's tenure.
The airline stated that "a number of factors were responsible for the occurrences that harmed Qantas and its image and caused substantial damage to relationships with customers, employees, and other stakeholders."
"The review discovered that errors were made by the board and management, even though there was no evidence of deliberate wrongdoing." After departing the company last year, Mr. Joyce was expected to get A$21.4m ($14m; £11m), but the sum would now be reduced by A$9.26m.
During his fifteen years as CEO, he guided the business through the Covid epidemic, the global financial crisis of 2008, and record fuel prices.
But by the time he left in 2023, the public's dissatisfaction with Qantas over its treatment of employees, high fares, and frequent delays and cancellations was intensifying.
Qantas lost a High Court challenge last year about the dismissals of employees during the pandemic. Additionally, it consented to pay A$120 million to resolve a complaint in May regarding the sale of thousands of tickets for previously canceled flights.
Although Mr. Joyce was supposed to leave the company in November, he left two months ahead of schedule.
Mr. Joyce claimed at the time that considering "events of the past" demonstrated that this was "the greatest thing" he could do.
