The Qantas board has reduced former CEO Alan Joyce’s payout by $9 million, including $8.36 million worth of shares, after reviewing “mistakes” made by management in recent years.
Joyce resigned as CEO of the national airline last September.
His resignation came after Qantas had faced a series of allegations of wrongdoings.
Qantas
During the COVID-19 pandemic and its aftermath, Qantas faced a number of allegations of wrongdoing over its business decisions.
A week before Joyce resigned last year, the High Court found the airline had illegally fired more than 1,700 ground handlers in 2020.
Earlier this year, Qantas agreed to pay $120 million in fines and compensation after it admitted to advertising tickets for flights that had been cancelled.
The airline commissioned a review of its board’s decisions last year.
In a statement today, it said the review had found “mistakes were made by the Board and management which contributed to the Group’s significant reputational and customer service issues”, although it said none of these were deliberate. This was its
