Alan Joyce’s $16m bonus in the hands of new QF chair 

Alan Joyce’s $16m bonus in the hands of new QF chair 

A high-profile consulting chief has been called in to determine whether or not former Qantas CEO Alan Joyce will collect his final $16m bonus from the carrier.

The payment is reportedly made up of $13.97m in long-term bonuses and a short-term bonus of $2.19m based on meeting specific financial indicators.

Joyce left the top job at Qantas in September last year collecting a final pay cheque of $24m on his way out the door, leaving Qantas in the mud as it battled a flailing reputation.

How big is Alan Joyce’s pay out after leaving Qantas?

Transport Workers Union CEO secretary Michael Kaine criticised the move heavily at the time.

“Alan Joyce is slipping into retirement two months early with a $24 million pay packet, leaving one of the biggest messes in corporate Australia‘s history in his wake,” he said.

“This is a classic Joyce move: pretend to take responsibility while pocketing obscene amounts of money.”

While serving as Qantas CEO, Joyce collected a total of around $170m over 15 years.

First test for new Qantas chair

The Joyce bonus is the first test for John Mullen, the new chairman at Qantas who took over from Richard Goyder earlier this year.

He has acquired the services of former Boston Consulting Group strategy chief Colin Carter who will give independent advice whether or not the payment which is double previous estimates must be made.

The Australian understands Joyce, members of his executive committee as well as select board members were are currently being interviewed.

If Carter and his team of external lawyers from King, Wood and Mallesons do not find any failures on pre-agreed methodology on Joyce’s end, the former CEO will be a step closer to his final pot of gold from the Qantas rainbow.

Latest News

  • Aviation

Gold Coast Airport marks major milestone in domestic expansion

Gold Coast Airport undergoes a $17 million refurbishment of its old international area to expand domestic capabilities following the shift of international services to a new terminal. The airport’s new domestic lounge has just opened, marking a milestone in the terminal’s ongoing transformation. With various refurbishments coming in the following weeks, including new flooring, improved […]

  • Exhibitions

Tahiti Tourisme gets behind Gauguin’s World exhibit at National Gallery, Canberra

Tahiti Tourisme is supporting the Gauguin’s World: Tōna Iho, Tōna Ao exhibition which was launched at the National Gallery of Australia in Canberra yesterday, 27 June, attended by the Vice President of Tahiti, Eliane Tevahitua, and Prime Minister Anthony Albanese attending the festivities. The exhibition, open to the public from tomorrow, 29 June to 7 […]

  • Cruise

All you need to know about White Bay Cruise Terminal

Here is everything you need to know about White Bay Cruise Terminal, one of two dedicated cruise passenger terminals in Sydney Harbour. Entering the cruise terminal The terminal is located at James Craig Rd, Rozelle, with easy road access via The Crescent / James Craig Road. Pedestrians and cyclists are allowed to enter the terminal […]

  • Cruise
  • Destinations

Explora Journeys launches Destination Experiences led by adventurer Mike Horn

Explora Journeys, MSC’s luxury lifestyle ocean travel brand, has announced Destination Experiences led by renowned explorer and brand ambassador Mike Horn. From 10-20 November 2024, guests on board EXPLORA I will have the opportunity to join Horn on two extraordinary adventures, showcasing the wild beauty of Spain’s Lanzarote and La Palma islands. During a lifetime […]

  • Cruise

Crystal announces exclusive collaboration with Casino de Monte-Carlo

Crystal has enhanced its voyages with a collaboration with a leader in the world of entertainment and gaming to bring the first and only Casino de Monte-Carlo at sea. The collaboration marks a new chapter for the brand that promises guests an elevated level of entertainment and gaming experience. It debuts onboard Crystal Symphony during […]