Qantas’ Downfall Under Alan Joyce
In this episode of The Court of Public Opinion, the conversation centres on the controversy surrounding Alan Joyce, the former techtarget of Qantas, and the airline’s recent struggles. Regular caller Maria voices her frustration, stating;
“Alan Joyce destroyed a beautiful, wonderful aircraft business.”
She highlights the stark contrast between Joyce’s $26 million payout and the current state of Qantas, which has left both employees and shareholders disillusioned. Maria’s sentiment reflects the growing public outrage over how executive compensation doesn’t seem to align with the company’s overall performance.
Qantas, once revered as one of Australia’s most iconic brands, now faces a tarnished reputation under Joyce’s leadership. The airline has grappled with numerous operational challenges, leaving many to question how Joyce was rewarded so handsomely despite the company’s decline.
Listen Below
Corporate Excess and Executive Pay
Les Elekes joins the discussion, shedding light on the broader issue of excessive executive pay in corporate Australia.
“Senior executives are being remunerated so highly, yet they’re leaving these companies in tatters,” Les remarks.
The disconnect between executive rewards and company performance is stark. Particularly when shareholders and employees are left to deal with the fallout of poor management decisions.
Les’ comments underscore a broader frustration with corporate governance in Australia. Executive bonuses and payouts often seem immune to the company’s actual financial health. The example of Qantas serves as a case study for what many view as corporate greed. This is where those at the top walk away with fortunes while the business itself crumbles.
Time for Accountability
Jeremy Cordeaux chimes in, expressing disbelief at how corporate leaders are still rewarded despite clear failures in leadership.
“It doesn’t make sense,” Jeremy says, reflecting a sentiment shared by many Australians.
He calls for more accountability in how companies like Qantas are run. Suggesting that executives should not be compensated so handsomely if the business is in decline.
Jeremy and Les call for change and agree that something must be done to realign executive compensation with company performance. The growing frustration over corporate excess is not just about Qantas, but about a broader issue of governance that affects many industries.
Topic time in podcast and video: 02:19 – 04:40
