This year we are sending ASU representatives to the Qantas AGM to ask the Board why we are not getting our bonuses.
This year the Qantas Annual General meeting is being held on Friday 26th October 2018 at 11am at the Hilton Hotel Ballroom Level 5, 190 Elizabeth Street Brisbane.
Meeting notices and proxy forms should have arrived for staff who are shareholders.
Once again shareholders are being asked to vote on the re-election of directors, the remuneration report, the long term incentive plan for Alan Joyce and a constitutional change.
Over a number of years the ASU has recommended voting against the remuneration report – nothing changes that view particularly given the mean spirited decision to postpone this year’s bonus for EBA covered staff.
Alan Joyce’s base pay may have been frozen since 1 July 2011- (it is still a cool $2,125,000) and he has a cash bonus of $1,995,000 for this year which is up 12% from 2017. There is also a share rights plan which is extremely generous.
For good measure the Board Chairman and Directors have had substantial base pay increases between 2017 - 2018 and their total packages range between $206,000 to $654,000 for a year’s part time work.
The senior executives also have packages with cash bonuses, rights to shares and other benefits. Meanwhile frontline staff are denied a bonus and held to ransom if they exercise their bargaining rights. Enough is enough – we recommend voting no to Alan Joyce’s package and the remuneration report.
Voting for the Directors
Four existing Directors are up for re-election – Maxine Brenner, Jacqueline Hey, Michael L’Estage and Belinda Hutchinson. The Board is proposing Anthony Tyler also be appointed as a Director. The Board is allowing staff bonuses to be held back – why vote for them?
We recommend voting for the resolution sponsored by the Australian Centre for Corporate Responsibility to enable shareholder advisory resolutions despite the Board’s recommendation not to.
If this change to the constitution is successful we recommend voting for the contingent resolution on Human Rights about the carriage of escorted immigration detainees carried by Qantas as well. Members at airports know all too well about these cases and we believe it is beholden on Qantas to commit to heightened due diligence in relation to these passengers.
What to do
You can vote against any or all of the resolutions. Whatever you do it is important to express your view.
The ASU’s recommendation is to vote against most of the resolutions and for some.
You can also attend the meeting in Brisbane or proxy your vote to ASU officials and delegates who are attending the meeting.
In your AGM pack from Qantas there was a proxy form, all you need to do is fill it in or complete it online following the instructions overleaf.
Who can be proxies
ASU delegates and officials will be attending the meeting. The following are the ASU reps attending the meeting who you can give your proxy to. You only need to choose one of them as your proxy:
- Linda White (ASU)
- Billy Colless (ASU)
- Michael Kelly (QF Staff)
- Trevor Rankin (QF Staff)
Qantas 2018 AGM – How to vote:
- In step 1 – Name one person to be your proxy (see names over page)
- In step 2 – Either direct your proxy how to vote to marking a box against the resolution or just mark the single box in step 1 if you want your proxy to decide how to vote
- In step 3 – sign and date the form
- Post, fax or complete your proxy form online to the Qantas Share Reigistry to reach them by 11am AESDT on Wednesday 24th October 2018. To post: use the reply paid envelope you received or post to Qantas Airways Limited, C/- Link Market Services Limited, Locked Bag A14, Sydney South NSW 1235 Australia. By fax: (02) 9287 0309. Online: Vote online at http://investor.qantas.com/AGM
- So we know if we are representing you, send us an email at email@example.com
- If you have lost your proxy form or didn’t receive one, a new form can be requested by phoning the share registry on 1800 177 747.
(Download the full bulletin with instructions here) Qantas Bulletin 26 September 2018