Qantas’s new female boss will be paid $600,000 less than outgoing Alan Joyce – after the airline’s chairman misunderstood her name when she announced she’d taken the top job
- Vanessa Hudson will receive a base salary of $1.6 million
- Alan Joyce will retire with a base salary of $2.2 million
Qantas’ new female CEO, Vanessa Hudson, will be paid $600,000 less than her predecessor Alan Joyce.
Ms. Hudson’s base salary when she takes office as airline boss in November will be $1.6 million — about 25 percent less than Mr. Joyce’s base salary of $2.2 million.
However, the current chief financial officer could rake in about $5.8 million in potential bonuses and is also entitled to four long-haul flights and twelve short-haul flights per year.
During Mr. Joyce’s first year in the top job in 2008, he had a base salary of $2 million, which was about 25 percent less than the man before him, Geoff Dixon.
Ms. Hudson’s promotion will reportedly give her about a 50 percent pay increase over her current role as CFO.
The base salary of new Qantas CEO Vanessa Hudson will be 25 percent lower than that of outgoing chief executive Alan Joyce, who will receive $2.2 million
Ms. Hudson, who has been with the airline for 28 years, was announced as the new CEO on Tuesday.
But an embarrassing gaffe by Qantas chairman Richard Goyder at a press conference saw him refer to Ms Hudson as ‘Olivia’ – referring to another CEO candidate and Qantas Loyalty chief Olivia Wirth
“Although it’s never easy, the board is convinced that Olivia is the right person to take Qantas forward,” he said.
Ms Hudson, a mother of two, said it was an ‘honour’ to step into the esteemed role.
During Mr. Joyce’s first year in the top job in 2008, he had a base salary of $2 million, which was about 25 percent less than the man before him, Geoff Dixon.
“This is an exceptional company full of incredibly talented people and it is very well positioned for the future,” she said.
“My focus will be to deliver for those we rely on and who rely on us: our customers, our employees, our shareholders and the communities we serve.”
She started her career at Qantas in 1994 as Internal Audit Supervisor.
Mr Joyce is credited with helping turn the airline’s fortunes around, including delivering skyrocketing profits after it emerged from the ravages of the Covid pandemic.
However, he has also sparked controversy over his battles with unions, including over a 2020 decision to outsource the jobs of about 1,600 ground workers.
The Federal Court ruled that the pandemic-era move was illegal, a decision the airline has appealed to the Supreme Court.
Ms. Hudson’s salary will be reviewed in August.