QF exec pay “discipline”

PAYMENTS to Qantas senior executives continued to reflect “discipline and leadership in difficult times,” according to the carrier’s annual report released on Fri, which showed that after some months of restraint, the CEO, executive management and non-executive directors returned to full pay from 01 Nov 2020.

CEO Alan Joyce received actual remuneration of $1.979 million, slightly above his 2020 result, while Jetstar Group CEO Gareth Evans receive $1.457 million.

Andrew David, who became CEO of both QF Domestic and

International from 01 Sep last year, was paid $1.411 million, and Chief Financial Officer Vanessa Hudson took home $1.202 million.

Qantas Loyalty chief Olivia Wirth received $1.254 million, while former CEO International Tino La Spina, who departed the carrier on 30 Nov, received $1.544 million including a termination benefit worth over $760,000.

Including share-based payments and long term incentives, the statutory remuneration for Alan Joyce was $5.288 million.

Annual incentives were not paid, but the QF Board warned it was critical to retain talent, noting that the pandemic had significantly increased demands on key staff who at the same time had a significant reduction in their overall remuneration.

Accordingly QF’s Directors said in the coming months they are developing “remuneration initiatives that are designed to reward and incentivise all employees in setting up Qantas for post-pandemic success”.