Qantas chairman to remain chairman despite damaging case

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Qantas chairman to remain chairman despite damaging case

The chairman of Qantas, Richard Goyder, has vowed to remain chairman despite a potentially damaging court case over allegations that the airline sold tickets for thousands of already cancelled flights.

But the veterans business leader holds five chairmanships - including Qantas, Woodside and the AFL - prompting questions from governance experts over how much is too much.

Labor Senate Senator Tony Sheldon has called for Goyder to resign after Alan Joyce left on Tuesday, two months before schedule.

Some board members can become too overstretched, said University of Queensland law professor Ross Grantham.

Boards oversee a company's compliance strategy, financial performance, and culture, with the chair having ultimate responsibility. The board also considers chief executives to be accountable, reining them in when necessary, which can include dismissing them.

While a director can sit on several boards, the chair's role is more onerous, which typically limits the number of positions they can take on.

But they do get well compensated for it. Goyder earned $658,000 on Qantas in 2021-22 and $8507,438 at Woodside. The AFL does not state the salary of its executive team.

The former chief executive of Wesfarmers, Goyder, is also the chairman of the West Australian Symphony Orchestra and the Channel Seven Telethon Trust.

Questions were asked to Goyder via Qantas, which declined to comment. He told the Australian that he was 'fully committed' to the role and would not resign.

Pauline Vamos, chair of the governance institute of Australia, said people can become 'overboarded'. Chairpersons often have about twice the work of a board director, she said.

While Qantas' financial performance has been robust, the company has been criticized for a period of unprecedented passenger complaints and a controversial travel credits refund policy, raising questions about the airline's culture.

If the competition watchdog proves its case, there's a chance it could pay hundreds of millions of dollars in penalties.

Investor groups are questioning how the Qantas board allowed so many issues to emerge, and have warned that Joyce's early departure is not the end of the matter.

Shareholders of the Australian Shareholders Association said on Friday they wanted to know whether the board had appropriate oversight of Qantas' performance, including the risks to the airline.

Louise Davidson, the chief executive of the Australian Council of Superannuation Investors, said the board 'carefully considers any executive bonuses' in view of the problems facing the company.

The airline's annual general meeting will take place in November, when investors will vote on the airline's remuneration plans.