Incoming Qantas CEO Vanessa Hudson to take home $1.6 million per year, plus millions in potential bonuses
Incoming CEO of Qantas Vanessa Hudson will be taking home an enormous pay packet, even if it’s a little lower than Alan Joyce’s.
Incoming CEO of Qantas Vanessa Hudson will be taking home an eye-watering salary, even if it’s 25 per cent lower than Alan Joyce’s.
Qantas announced on Tuesday that Hudson had been selected as CEO, beating out nearly 40 other candidates, including Qantas Loyalty CEO Olivia Wirth.
Ms Hudson will make history as the first female CEO in the airline’s 103-year history.
She will become the new CEO of Qantas in November and is set to receive a base salary of $1.6 million. While this represents a significant increase from her previous position as CFO, it falls short of the $2 million base salary that current CEO Alan Joyce takes home.
Mr Joyce first assumed the role in late 2008.
Adjusted for wage inflation, Mr. Joyce’s salary equates to approximately $2.9 million as of December last year.
Despite the disparity in base pay, Qantas has stated that Ms. Hudson’s total compensation, which included potential bonuses, will be around $5.8 million.
“Not only can we afford the capital expenditure that is coming, but we can also continue to reward our shareholders through the cycle,” Ms Hudson said.
“We have recovered our (net promoter score), our on-time performance is back. And, in addition to managing that, we actually made the decision to invest in new aircraft while we were still within COVID-19,” Ms Hudson said.
Mr Joyce is eligible for $15.2 million in bonuses at the end of this financial year after deferring his long-term incentives. He will also be eligible for another $4.5 million in August, when the board assesses his performance against their short term company targets.
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