Shareholders out for blood at Qantas agm

BTN News
Saturday, 21 October 2023

The Australian Shareholders' Association (ASA) says that at the upcoming Qantas agm on November 3, it will vote against a number of resolutions including the nomination of Qantas Group ceo Vanessa Hudson as a director.

"We know this agm will be an important opportunity for shareholders to express their disappointment and frustration with past events," Qantas said in a media email.

Hudson was chief financial officer at the national carrier before being appointed its first-ever female ceo in May this year, taking over from former group ceo Alan Joyce.

"Given Vanessa Hudson has been a member of the executive while issues have been allowed to occur, we think this resolution should be voted against until she has proven herself in the role," the shareholders' association said.

The association also expressed concerns over the airline's remuneration report, saying that deferring the Long-Term Incentive Plan over several years had resulted in Joyce getting a significant payout.

Qantas said last month that it would pay Joyce A$21.4 million for fiscal 2023, nearly 10 times more than last year.

"Action has been taken on executive remuneration and remains a focus for the Board," Qantas said, while adding that it is in a fundamentally strong position to fix its service issues and restore customer and community trust more broadly.

Shareholders out for blood at Qantas agm

BTN News
Saturday, 21 October 2023

The Australian Shareholders' Association (ASA) says that at the upcoming Qantas agm on November 3, it will vote against a number of resolutions including the nomination of Qantas Group ceo Vanessa Hudson as a director.

"We know this agm will be an important opportunity for shareholders to express their disappointment and frustration with past events," Qantas said in a media email.

Hudson was chief financial officer at the national carrier before being appointed its first-ever female ceo in May this year, taking over from former group ceo Alan Joyce.

"Given Vanessa Hudson has been a member of the executive while issues have been allowed to occur, we think this resolution should be voted against until she has proven herself in the role," the shareholders' association said.

The association also expressed concerns over the airline's remuneration report, saying that deferring the Long-Term Incentive Plan over several years had resulted in Joyce getting a significant payout.

Qantas said last month that it would pay Joyce A$21.4 million for fiscal 2023, nearly 10 times more than last year.

"Action has been taken on executive remuneration and remains a focus for the Board," Qantas said, while adding that it is in a fundamentally strong position to fix its service issues and restore customer and community trust more broadly.