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Former Qantas CEO to have bonuses slashed

<p>Former Qantas CEO Alan Joyce is set to have his bonuses slashed by $9 million. </p> <p>The decision comes after the airline pledged to implement all 23 recommendations made in its review of key governance matters, which were revealed in an update on 2023 financial year executive remuneration.</p> <p>Joyce, who left his role as the Qantas CEO in September 2023, will have his last annual salary with the airline cut by $9.26m, leaving him with $1.8 million. </p> <p>His hefty bonuses were withheld amid mounting pressure from investors following a string of controversies, including the illegal sacking of 1,700 workers, the selling of tickets on already cancelled flights and allegations of anti-competitive behaviour.</p> <p>Qantas released a statement on Thursday saying Mr Joyce's whopping salary led to a number of mistakes that lead to “considerable harm” across multiple areas of the company. </p> <p>“The events that damaged Qantas and its reputation and caused considerable harm to relationships with customers, employees and other stakeholders were due to a number of factors,” the statement read.</p> <p>Following a settlement with the Australian Competition and Consumer Commission (ACCC), the airline admitted to “misleading customers in relation to flight cancellations processes” and with the approval of the Federal Court, will pay a $100m penalty on top of also agreeing to a $20m customer remediation program.</p> <p>Incoming Qantas chairman John Mullen said it was important that the board learns from previous mistakes. </p> <p>“It’s important that the board understands what went wrong and learns from the mistakes of the past as it’s clear that we let Australians down,” he said. </p> <p>“As the national carrier it is our duty to make sure we always act in the best interest of stakeholders and hold ourselves to the highest level of accountability.”</p> <p><em>Image credits: Getty Images </em></p>

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Gina Rinehart dishes out random $100k Christmas bonuses

<p>Australia’s richest person has splashed the cash this Christmas, randomly awarding 10 Roy Hill workers a $100,000 bonus.</p> <p>Mining magnate Gina Rinehart was said to have told employees last week to “stand by for an important announcement”, a source told a Perth radio station on Monday.</p> <p>A caller said that the billionaire “announced the fact that she was going to call 10 names out of a hat”.</p> <p>“Those names would each receive a $100,000 Christmas bonus,” the caller said.</p> <p>An anonymous Roy Hill employee jumped in on Tuesday, confirming that the rumour was legitimate.</p> <p>They added that one of the winners had only been at the firm, which is controlled by Rinehart’s private company Hancock Prospecting, for three months. This left some long-term employees annoyed.</p> <p>Roy Hill was sought after for comments but has so far stayed quiet.</p> <p>The Pilbara operation is a major money-maker for Rinehart, delivering a net profit of $3.2bn for the year to June 30.</p> <p>The figure after tax was 28% weaker compared with 12 months earlier, with the shortfall being attributed to falling iron ore prices.</p> <p>Rinehart, who was born in Perth, is Australia’s richest person with a net worth of $32.6 billion.</p> <p><em>Image: Getty</em></p>

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“So tone deaf”: Karl loses it over Medibank bosses' massive bonuses

<p dir="ltr">Karl Stefanovic has slammed the top bosses at Medibank after it has been revealed they will be taking home millions in bonuses amid the company’s cyber attack crisis.</p> <p dir="ltr">While ten million of Medibank’s customers are learning whether their personal data has made it onto the dark web - and fork out cash to keep themselves safe - bosses will still be collecting a total of $7.3 million in bonuses.</p> <p dir="ltr">Joel Andrews, one customer whose data has been stolen, told <em>Today </em>that “it’s disgusting” that bosses aren’t willing to give up their bonuses despite affected customers facing financial losses.</p> <p dir="ltr">“I’m furious,” Andrews said.</p> <p dir="ltr">“To think that it’s taken them a month to get this information out to us and say what’s been released, I understand it takes time to find these things out but it’s taken them that long. </p> <p dir="ltr">“They promised early on that they would act quickly because it’s such a time-sensitive issue, and it feels like they have just left it up to them, on their timing.”</p> <p dir="ltr">“I mean you’ve got the Medicare boss getting $1.5 million in bonuses last financial year,” co-host Ally Langdon said.</p> <p dir="ltr">“He also receives 150 percent of his fixed salary in shares … it’s pretty tone deaf, isn’t it?”</p> <p dir="ltr">“It’s disgusting,” Andrews replied.</p> <p dir="ltr">"To think that all of the customers out there, ten million customers, if each of them have to pay for their own software to do data protection, losses to them are around $100 each,.</p> <p dir="ltr">"That's a significant loss to each person and they are not willing to give up their bonuses."</p> <p dir="ltr">Stefanovic, who found out he was also a victim of the attack just two days ago, said he had “no sympathy” for the company as it faces declining share prices and hefty costs as a result of the attack and agreed the bonuses were “disgusting”.</p> <p dir="ltr">“It’s a failure across the board and they’re giving themselves bonuses,” the <em>Today Show</em> host said.</p> <p dir="ltr">“It’s unbelievable.</p> <p dir="ltr">"This is so tone deaf, it is one of the most tone deaf things I have seen a corporation do in Australia for a long, long time.”</p> <p dir="ltr">The health insurance company has come under fire for how it handled the cyber attack, with customers’ data being leaked onto the dark web after it refused to pay a ransom and affected customers finding out if they’ve been targeted more than a month later.</p> <p dir="ltr">As the Australian Federal Police continue their investigation into the attack, they have promised to take swift action against anyone who accesses the private data shared on the dark web.</p> <p dir="ltr">Affected customers who aren’t happy with Medicare’s actions or its handling of the situation have also begun proceedings to file a lawsuit against the company.</p> <p><span id="docs-internal-guid-bf090b99-7fff-1249-0ed1-ac63862a591b"></span></p> <p dir="ltr"><em>Image: The Today Show</em></p>

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Aussie Olympians receive hefty bonuses from billionaire Harry Triguboff

<p><span style="font-weight: 400;">Australian athletes who took home medals from the Tokyo Olympics are set to receive an additional bonus from billionaire Harry Triguboff AO, with athletes to be awarded an extra $5,000 per medal they won.</span></p> <p><span style="font-weight: 400;">The Australian Olympic Committee (AOC) revealed that Triguboff, the Meriton Managing Director, donated $645,000 to the organisation.</span></p> <p><span style="font-weight: 400;">The AOC said the donation was an “unsolicited gesture” and “unexpected bonus” for Australia’s top athletes.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">Thank you Harry Triguboff AO! 👉<a href="https://t.co/TXDlTlqTGv">https://t.co/TXDlTlqTGv</a><br /><br />The <a href="https://twitter.com/MeritonGroup?ref_src=twsrc%5Etfw">@MeritonGroup</a> Managing Director has donated $5,000 to each of the 99 Australian Olympic Team members who won 129 medals at the Tokyo Olympics. 🥇🥈🥉<br /><br />📸 Sam Ruttyn / <a href="https://twitter.com/dailytelegraph?ref_src=twsrc%5Etfw">@dailytelegraph</a> <a href="https://twitter.com/hashtag/TokyoTogether?src=hash&amp;ref_src=twsrc%5Etfw">#TokyoTogether</a> <a href="https://t.co/7Ou2CI44aw">pic.twitter.com/7Ou2CI44aw</a></p> — AUS Olympic Team (@AUSOlympicTeam) <a href="https://twitter.com/AUSOlympicTeam/status/1433379955094790148?ref_src=twsrc%5Etfw">September 2, 2021</a></blockquote> <p><span style="font-weight: 400;">“Harry is hugely proud of what our team achieved in Tokyo, and for him to say ‘thank you’ in this way is hugely generous and most unexpected,” AOC President John Coates said in a statement.</span></p> <p><span style="font-weight: 400;">“The donation is per medal, so for those Olympians whose efforts were rewarded with multiple medals, it will make coming home to family and friends all the sweeter.</span></p> <p><span style="font-weight: 400;">“On behalf of the AOC, and in particular our 99 medal winners, we say thank you Harry.”</span></p> <p><span style="font-weight: 400;">Triguboff, who has a fortune of $17.27 billion, stressed the importance of rewarding athletes during the pandemic.</span></p> <p><span style="font-weight: 400;">“We are always successful at the Olympic Games. However, this time it was especially important because we are close to recession and many people have been impacted by the virus,” Triguboff said, per the AOC.</span></p> <p><span style="font-weight: 400;">“The medallists in Tokyo made us all very happy and we were glued to the television and were only thinking of our athletes during this difficult time.”</span></p> <p><span style="font-weight: 400;">The news comes as pay disparities between Olympic and Paralympic athletes have come into the spotlight, with a SBS report revealing that Paralympians do not and have ever received the same performance bonus.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">The superhumans get nothing??? That’s a disgrace. <br />“Australian Olympians who won gold at the Tokyo Games received $20,000. Our Paralympians will get zero” <a href="https://t.co/OCd93DzXIW">https://t.co/OCd93DzXIW</a></p> — 🩴 Annie Parker 🩴 #SmashThePatriarchy #FullyVaxed (@annie_parker) <a href="https://twitter.com/annie_parker/status/1431553390706925573?ref_src=twsrc%5Etfw">August 28, 2021</a></blockquote> <p><span style="font-weight: 400;">Prime Minister Scott Morrison has since announced that Paralympic athletes who win medals at the Games would receive the same bonuses as Olympic athletes from now on.</span></p> <p><span style="font-weight: 400;">Gold medal winners will receive $20,000, while silver and bronze medallists will be awarded $15,000 and $10,000 respectively.</span></p> <p><em><span style="font-weight: 400;">Image: AUS Olympic Team / Twitter</span></em></p>

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