Qantas Airways Limited (AU:QAN) has released an update.
In response to various setbacks including legal challenges and reputational issues, Qantas Airways has announced significant cuts to executive remuneration for FY23, with former CEO Alan Joyce’s pay reduced by $9.26 million. This decision follows a 20% reduction announced previously and includes a forfeiture of 100% of Joyce’s shares from the 2021-2023 Long Term Incentive Plan. The overall reduction in short term incentives for senior executives, including Joyce, totals approximately $4.1 million.
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