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Qantas Cuts Former CEO Alan Joyce's Pay by $9.3 Million, Leaving Him with $1.8 Million

Aug 8, 2024, 12:46 AM

Qantas Airways has decided to cut former CEO Alan Joyce's fiscal 2023 pay by A$9.26 million, equivalent to $6.03 million. This decision follows a governance review that identified significant reputational and customer service issues attributed to Joyce's leadership. The board's decision reflects the airline's response to the challenges faced during Joyce's tenure, including measures that alienated travelers, employees, and shareholders, particularly during the COVID era. As a result, Joyce will receive a reduced payout, leaving him with $1.8 million. The reduction amounts to $9.3 million, with some reports indicating it is almost $10 million.