Australian airline Qantas has announced it will scrap the severance package of its former CEO Alan Joyce, following a series of scandals and costly lawsuits stemming from decisions made during his tenure.
The AUD21.4 million ($14 million; £11 million) payout Mr Joyce was due to receive after he left the company last year will be cut by AUD9.26 million, the company told investors.
The company also says the short-term bonuses of other current and former top executives will be cut by 33%.
The announcement came on the same day that Qantas published the findings of an investigation into a number of issues faced by the company during Joyce’s time at the helm.
“The events that damaged Qantas and its reputation and caused significant harm to relationships with customers, employees and other stakeholders were due to a number of factors,” the airline said.
“Although there was no intentional misconduct, the investigation concluded that mistakes were made by the Board of Directors and management.”
Mr Joyce, who served as CEO for 15 years, led the company through the 2008 global financial crisis, the pandemic and record fuel prices.
However, when he stepped down in 2023, Qantas faced growing public anger over high fares, mass delays and cancellations, and its treatment of workers.
Joyce’s successor, Vanessa Hudson, became the first woman to lead the airline when she became CEO in September last year.
He was set to leave the company in November, but stepped down two months earlier than expected.
Mr Joyce said at the time that the recent focus on “past events” made it clear this was “the best” thing he could do.
The airline has been the subject of growing public anger after posting record profits despite a series of scandals.
Last year, Qantas lost a High Court case over staff layoffs during the pandemic.
In May, the company also agreed to pay AUD$120 million to settle a lawsuit over the sale of thousands of tickets for flights that had already been cancelled.
