Shareholder dissent can be traced to events since the airline disclosed a record $2.47 billion in underlying profit on August 23.
The board of Qantas is braced for a frosty reception when they front shareholders at the annual meeting on Friday, with a significant protest vote against their remuneration report likely in light of the swathe of scandals that have plagued the airline over the past three months.
Two consecutive strikes on the same resolution will trigger a board spill. This has never happened in Australian corporate history. Directors Maxine Brenner and Jacqueline Hey will also leave by February next year, while Michael L’estrange will retire at this year’s meeting.
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