In the lead up to the release of QF's results in the next couple of weeks, I thought it'd be interesting to put forward a few stats of QF's performance during AJ's reign
Profit before Tax (Underlying profit is a w@nk used to hide management stuff-ups)
FY09 $181M
FY10 $178M
FY11 $323M
FY12 -$349M
FY13 $17M
If he manages to lose the rumoured $800M this year, this will mean he has managed to earn negative $450M for shareholders throughout his reign... a dubious achievement for a CEO who has somehow managed to survive for 6 years.
On the plus side, his personal earnings over the 5 years to 30/6/13 were $22.3M on top of the $6.9M he earned in his 4 years heading up JQ. In addition to this, if he is terminated he received 6 months salary as well as keeping his entitlement of 4 int'l trips and 12 domestic trips FOC for the next 11 years.
It will also be interesting to check out how hard the Board are on him in relation to his short -term bonus. The key components are
1. "normalised" profit which as I said before is an accounting w@nk that wasn't even mentioned in Qantas' accounts prior to AJ becoming CEO,
2. achievement of safety standards (rewarding him for the hard work of other people)
3. building a strong domestic base (he started with a strong domestic base; he is just managing how it becomes smaller)
4. transforning the int'l business (who could argue that it hasn't changed??? Pity it got smaller not bigger though), and
5. growing Jetstar in Asia (LOL)
Last year he got a Poor on 1, Excellent on 2 & 4, Good on 3 and Satisfactory on 5. This year it is hard to see him earning anything above Poor except for safety which is someone else's job anyway.
Last edited by 1A_Please; 13th Aug 2014 at 23:51.
Reason: Typo