Qantas Executives Face Bonus Reductions Following July Cyber Attack

Short-term bonuses for the executive team at Qantas, including CEO Vanessa Hudson, have been reduced by 15 percentage points for the 2024–25 financial year due to the negative impact of a recent cyber attack on customers. Hudson will personally experience a $250,000 reduction in her short-term bonus. For the 2025 financial year, Hudson’s total compensation will amount to $6.3 million, an increase from the previous year’s $4.4 million. Former CEO Alan Joyce will receive $3.8 million in his final bonus package after departing from the company in late 2023.

Base executive pay has seen a 3 per cent increase, with long-term bonuses also rising significantly due to a substantial increase in the company’s share price over recent years. Qantas Group Chair John Mullen stated in the annual report that, while management acted swiftly to address the breach and support customers, the decision to cut short-term bonuses reflects a commitment to accountability and ownership within the organisation. The cyber incident, which occurred in July, involved criminals using AI to impersonate a Qantas employee, successfully deceiving a customer service operator in Manila into revealing sensitive information. Although no group has claimed responsibility, initial reports suggested involvement from a hacking collective known as Sc. 

Categories: Executive Compensation, Cybersecurity Incident, Corporate Accountability 

Tags: Bonuses, Executive, Impact, Customers, Pay, Incident, Accountability, Culture, Cyber, Hacking