Just how much venom Qantas’ shareholders choose to spew at the airline’s board in the upcoming annual general meeting has got corporate circles buzzing.
How large will the vote against executive pay packets be? And will it break the record of 88 per cent set by National Australia Bank shareholders in 2018? Or will investor backlash be more on the scale of the 62 per cent trouncing delivered to Westpac’s board the same year?Richard Goyder, Qantas chairman, and Vanessa Hudson, the airline’s chief executive, are likely to get a hostile welcome from investors at the upcoming AGM.
Expect Qantas to get ahead of the opprobrium. Sampson will almost certainly not stand for re-election if the numbers pile up against him.If he doesn’t, we can expect an announcement from Qantas that he won’t be standing for election. At this point, Joyce’s cash looks mostly safe but not bankable. If the competition regulator’s allegations that Qantas misled and deceived its customers are proven, then Joyce’s long-term options will suffer.
There is little point in subjecting her to death by a thousand cuts. They need to make a call on whether she was part of the problem or the solution.by 3.5 per cent in response to elevated fuel costs. The hike comes just a month after Qantas warned that higher fuel costs would feed into fare increases. There’s nthing wrong with the rationale but Hudson’s timing couldn’t be worse.
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