Alan Joyce reportedly jets off with a substantial amount of cash and Qantas shares in his portfolio — but valid questions are being asked about whether he is entitled to all of it.
Assuming all those shares are vested , the total value would be about $17.7 million based on Wednesday's closing share price of $5.70, which has fallen in the past week in response to recent reputational headwinds.
There is nothing stopping Joyce from selling his Qantas shares in the future, provided they convert to ordinary shares. Because he has now resigned from Qantas, those sales would not need to be disclosed.While Qantas is a publicly listed company , shareholders get no more say on Joyce's payout than they would on what planes the airline purchases.But the board could also revoke or restructure the payout — we just don't know yet.
The board is under enormous pressure to be transparent. Although shareholders don't have a say in whether he is paid, their frustrations are being heard.
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