Alan Joyce – board rewards grounding Qantas

New Years eve saw the reporting of the vesting of Qantas shares to the value of approx $600,000 with Alan Joyce as part of his short term incentive rewards payments.

The only way to interpret this is that the Qantas Board is rewarding their CEO for shutting down the airline and costing them $70 million. Yeah, yeah, I know all the arguments about what the strike action was costing them in lost revenue and future bookings, but it still doesn’t change the fact that it was not just Alan Joyce who wanted the grounding, but the whole board. Any criticism of Qantas should be firmly focused on the Board, not just the CEO.