I take issue with the suggestion that the CEOs of poorly performing companies are paid too much.
I got a six figure salary for agreeing to try and manage a "poorly performing company" and I don't begrudge Joyce one cent for taking on the huge job of turning Qantas around, even if I don't agree with anything he is doing.
Being a CEO is an endless procession of "wicked problems" that have no easy solution, if there is even a solution at all. It exercises you Twenty Four hours a day, Seven days a week. Most CEO's don't get to "retire" gracefully either. They are just dumped either for not being able to deal with the latest problem in the business or simply because the Directors like the idea of having a fresh face around.