Vanessa Hudson has been announced as the new CEO of Qantas, making history as the first female CEO in the company’s 103-year history.
She was chosen from nearly 40 other candidates and will take office in November. Her base salary will be $1.6 million, which is a significant increase from her previous role as CFO, but still 25% less than current CEO Alan Joyce’s $2 million base salary.
In addition to her base salary, she is also eligible for potential bonus millions.
Alan Joyce became the first CEO of Qantas at the end of 2008. His salary, adjusted for wage inflation, was about $2.9 million in December last year.
New CEO Vanessa Hudson will have a base salary of $1.6 million, but her total compensation, including potential bonuses, will be around $5.8 million. Ms Hudson is confident Qantas can afford capital expenditures and continue to reward shareholders. It also mentioned that Qantas has even invested in new aircraft during COVID-19.
Mr. Joyce is eligible for $15.2 million in bonuses at the end of this fiscal year and an additional $4.5 million in August when his performance is evaluated against the company’s short-term goals.
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