Qantas Airways Limited (AU:QAN) has released an update.
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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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