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STORY: Qantas is slashing the exit pay for former CEO Alan Joyce.
The move comes after a damning report, which blamed him for alienating travelers, staff and shareholders.
He will now see his exit bonuses cut by $6 million.
Wednesday’s move marks a gloomy footnote to Joyce’s 15-year reign at the Australian airline.
Though it does not come out of the blue.
Joyce brought forward his retirement to last September under a cloud of lawsuits.
They alleged unfair sackings during the pandemic, and the sale of tickets for flights that Qantas knew had been cancelled.
During Joyce’s time, the airline also faced controversy over problems with lost luggage.
And he sparked anger in 2011, when he grounded the entire fleet over a union dispute.
The company published its review Thursday, written by a senior adviser at consultants McKinsey.
It said the airline had a “top-down” management style and an “adversarial” relationship with stakeholders.
The report said the board had “limited visibility or appreciation” of the problems.
