James Packer joins Qantas board

[Wirraway]

AAP
March 1, 2004 - 12:30PM

Qantas Airways Ltd has appointed James Packer as a non-executive director of its board.

Qantas chairman Margaret Jackson said Mr Packer would fill a casual vacancy on the Qantas Board and take up the position effective from Monday.

"I am delighted that James is joining the Qantas Board and I am confident that his experience across a range of industries - both in Australia and overseas - will further strengthen the diversity of corporate skill, age and geography that is offered by the other Board members," Ms Jackson said.

Mr Packer was appointed executive chairman of Publishing and Broadcasting Ltd (PBL) in May 1998, having served as PBL chief executive from March 1996 until May 1998.

He is also joint chief executive of Consolidated Press Holdings Ltd, chairman of Challenger Financial Services Group and a director of various companies including Foxtel, Hoyts Cinemas Ltd and ninemsn.

©2003 AAP

=======================================

[TIMMEEEE]

Ah yes, so once again a newspaper/media baron can show us all the way an airline should be run.

And here's me thinking that the One-Tel fiasco (Jamie and young Murdoch's brainchild) wasnt that long ago.

My widowed grandmother that managed to raise and educate 8 kids on a pension could do better I believe.

As a famous industrialist said many years ago, its always the third generation that loses the family fortune!

[High Altitude]

If only I had a rich dad...

[D Rate]

Just what the big Q needs a first rate L. Would be kind of funny if it wasn't so sad. See how the young boy goes losing somebody else's money....Get young Lachlan in there and make it a free for all

Seriously Q, is the world so short of capable people that he is the "least worst" choice? Then again you don't need any ability if you have Daddy's backing...

wonder if the share price headed southwards?

[Buster Hyman]

It was probably just to get a discount on the inflight news bulletins.

[DirectAnywhere]

Should allow the Board to put a thorough media spin - through several outlets - on any upcoming Industrial action by either pilots or any other union following the J* launch and any subsequent "negotiations".

Let's hope he does better than the non-executive director he's replacing - who's in court today I think??

[Uncle Festa]

The appointment of young James to the Board . . . .

Doesn't it make you want to rush out and buy QF shares . . . . ?

To quote Margaret Jackson "his experience across a range of industries - both in Australia and overseas - will further strengthen the diversity of corporate skill, age and geography that is offered by the other Board members".

My questions to Margaret are as follows:

1. How will James strengthen the diversity of corporate skill?
2 Why is "diversity of age" a plus for QF?
3 What is meant by the "diversity of geography"?
4. How do the above translate to improving shareholder value?

One-tel is hardly a shining light on young James' CV.

[The The]

1. He could raise his hand at the board meeting and say "I tried that, and %$%^ed up"

2. When you're young, you're allowed to @#$% up, dad will fix it.

3. He lives in Bondi, a lot of backpackers visit Bondi.

4. Kerry will step in and fix the @#$% up!

[Wirraway]

Tues "Sydney Morning Herald"

Cheap flights for James after parachuting into Qantas seat
By Wendy Frew
March 2, 2004

Qantas yesterday picked up the heir to Australia's largest media fortune.

James Packer, son of Kerry Packer and the executive chairman of Australia's leading television network, biggest casino and the most profitable magazine group, has accepted a seat on the board of the flying kangaroo.

The appointment comes on the same day a former Qantas board member and one-time Packer executive, Trevor Kennedy, appeared in the Federal Court in an attempt to block access to information on his role in a Swiss banking controversy.

The 36-year-old Mr Packer - one of the youngest appointments to the airline's board - brings with him a raft of media, advertising and political connections, and his experience in the family-controlled company, Publishing & Broadcasting, where he has worked since 1988.

Qantas is one of the biggest advertisers on PBL's Nine Network and in its many magazines.

Mr Packer undoubtedly also knows something about dealing with corporate crises.

He was on the board of One.Tel when the mobile phone company collapsed in May 2001, taking $375 million of PBL's money with it.

Mr Packer stands to earn directors' fees in excess of $80,000 a year from Qantas and travel discounts on the airline. In return, he is required to attend at least eight formal board meetings a year.

============================================

[Buster Hyman]

Mr Packer stands to earn directors' fees in excess of $80,000 a year from Qantas and travel discounts on the airline. In return, he is required to attend at least eight formal board meetings a year.
In my last year at AN, after 17 years and working a rotating roster 24/7, I still didn't get that much!

Where did I go wrong?

[oldhasbeen]

"dealing with corporate crises".....now there's a spin for you.When are these punks going to get a real job and stop hangin' off daddy's coat tails. F....g loser!:*

[Kaptin M]

Buster, "Where did I go wrong?" :{

"The 36-year-old Mr Packer...brings with him a raft of media, advertising and political connections" :mad:
For which he'll be paid "$80,000 a year from Qantas and travel discounts on the airline."
Royalties I guess you could call them!

Amazing what Mates can do for Mates, isn't it!

Now the rest of you QANTAS employees will need to shape up, and work harder for less - or face retrenchment.

[Buster Hyman]

Ahhh, I see. He can build a raft! Now I know where I went wrong!:hmm:

[compressor stall]

From QF's point of view it will avoid negative media in half of the country's media outlets, probably more if the current gov't relaxes x-media ownership laws.

We all remember the days when QF was the target for negative media coverage!

There's something in it for QF!

CS

[wessex19]

J.P. is on the Sydney City Roosters board and did not show for one of their 12 meetings last year!!! I believe Qantas had 8 last year. Question, Is there a minimum amount of meetings that a board member must attend to hold their position??? Even if they are an independent non-executive???
My old man always said, "Money talks, Bullsh@t walks"

[HotDog]

oldhasbeen, I wish I was such a "F*****g loser" as James Packer!:rolleyes:

[raft rower]

Getting staff travel as well, what a :mad: joke.

[1A_Please]

You can't say that he is not an independent director. He doesn't need to fly QF ever, he has his own DC-8 at his beckoned call.

[longjohn]

Let me suggest another angle.

Certain VIP's on the Qantas Board are extremely ambitious. By ingratiating themselves with Australia's richest and most powerful man they are placing themselves in a very strong position in achieving lofty goals.

Just a shame IMHO, JP has very little to contribute to the airline, mind you, what has any non executive director contribited?

[Uncle Festa]

longjohn

Margaret Jackson's comments regarding young James' appointment said it all by, paradoxically, saying
nothing.

[Pinky the pilot]

He might be getting paid $80,000 per year but who said anything about earning it!!
I suppose we should be thankful that they did'nt appoint young Warwick instead.:mad:

You only live twice. Once when
you're born. Once when
you've looked death in the face.

[Dexter]

packa role call. facka, kacka, jacka, wacka.

[frangatang]

Pinky,you nicked that from the james bond novel!
When will packer have the time for a meeting,if he isnt getting
plastered on bondi beach,hes probably getting plastered at a polo
match in england in the northern summer,champagne supplied free by his dad of course.
Isnt it the same around the world,these unaccountable,useless
directors surface and dive popping up everywhere leaving a trail of debris behind them.Robert call me bob ayling in BA lost a fortune for the company ,disappeared and evidently resurfaced
as the Us director for dyson vacuum cleaners.

[Keg]

I thought the DC-8 was sold a year or so ago and traded in for a Gulfstream or other such type!?!?! Anyone confirm or deny? :ok:

[Animalclub]

I thought his DC-8 was for his polo ponies