PPRuNe Forums - View Single Post - Why Alan Joyce was wrong choice for Qantas
Old 12th Feb 2011, 03:10
  #25 (permalink)  
gobbledock
 
Join Date: Oct 2009
Location: Alabama, then Wyoming, then Idaho and now staying with Kharon on Styx houseboat
Age: 61
Posts: 1,437
Likes: 0
Received 0 Likes on 0 Posts
You would have great difficulty getting rid of Board members as most are placed by the support of Institutionalised Shareholders (which are only interested in capital returns!!)
Spot on.
Board membership, share allocations, share holders and voting is a little more complex than it appears, yet it is not that hard to fathom. But the reality is that the CEO will not get punted by the board. And the amount of shares owned by institutionalised shareholders will see them continue to vote for the CEO as long as he is bringing home the bacon. Staff morale, safety, dirty onboard cutlery, a declining reputation and the smell of stale urine in the economy cabin mean absolutely nothing as long as the $$$ click over for the shareholders.....It is sad but true.
gobbledock is offline