Qantas 2001 Annual Report Download - page 32

p30 QANTAS CONCISE ANNUAL REPORT 2001
DIRECTORS’ INTERESTS AND BENEFITS
Particulars of Directors’ interests in the share capital of Qantas at the
date of this Report are as follows:
2001 2000
Directors’ Ordinary Shares Number Number
Margaret Jackson 110,022 95,348
Geoff Dixon 13,718 11,630
Peter Gregg 3,974 1,959
Mike Codd 8,000 8,000
Trevor Eastwood 10,366 –
Jim Kennedy 1,000 1,000
Trevor Kennedy 120,800 120,800
John Schubert 30,000 –
DIRECTORS’ AND EXECUTIVE OFFICERS’
EMOLUMENTS
The Board of Directors determines the overall remuneration policy
and packages applicable to Board members and senior executives of
the Qantas Group. The broad remuneration policy is to ensure that
each remuneration package properly reflects the duties and
responsibilities of the relevant individual and that remuneration is
competitive in attracting, motivating and retaining people of the
highest calibre.
Directors’ and executives’ remuneration includes fees or salaries (as
appropriate), superannuation contributions, performance bonuses,
other benefits and retirement and resignation payments.
SHORT-TERM INCENTIVES
Executive Directors and other executives participate in an
annual performance-based reward scheme introduced for all
executives in the 1995/96 financial year. This scheme provides for
cash performance bonuses to be paid where predetermined
objectives are met. Performance objectives include the achievement
of a predetermined level of annual profit and annual profit
enhancement targets.
LONG-TERM INCENTIVES
Executive Directors and certain senior executives participate in a Long-
Term Incentive Plan introduced in the 1996/97 financial year, which
provides for a bonus payable at the earlier of the expiry of the
relevant senior executive’s service contract or after five years, based
on the financial performance of the Qantas Group. Performance is
determined on a range of criteria including the Qantas Total
Shareholder Return (TSR) ranking amongst the top 100 listed
Australian companies and also against the TSRs of a predetermined
basket of international airlines. The incentives which vest under this
Plan are not included in remuneration until they become payable.
Entitlements over unissued ordinary shares in Qantas are also issued
to Executive Directors and other senior executives under the Qantas
Long-Term Executive Incentive Plan introduced in the 1999/2000
financial year (refer “Share Entitlements” on page 32).
Directors’ REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2001
AUDIT, SAFETY,
RISK & ENVIRONMENT
COMPLIANCE & SECURITY CHAIRMAN’S NOMINATIONS BOARD
QANTAS BOARD COMMITTEE COMMITTEE COMMITTEE COMMITTEE COMMITTEE
Directors Attended Held1Attended Held1Attended Held1Attended Held1Attended Held1Attended Held1
Margaret Jackson 13 13 3633
244411 23
Gary Pemberton 1 1
Geoff Dixon 12 12 222112
2233
James Strong 8 8 222333
2312
Peter Gregg 9 9 2221
212 52
Gary Toomey 2 3 1211
21
Mike Codd 13 13 3 3 3 3 1 1
John Ducker 2 2 1 1 1 1
Trevor Eastwood 11 13 2 2 4 4
Rod Eddington 246
Jim Kennedy 13 13 35344
Trevor Kennedy 13 13 22
Lord Marshall 537
Roger Maynard 12 13 3 3 1 1
John Schubert 7 8 2 2 1 1
Nick Tait 13 13 444411 22
DIRECTORS’ MEETINGS
The number of Directors’ Meetings held (including Meetings of Committees of Directors) and number of Meetings attended by each of the
Directors of Qantas during the financial year are as follows:
1Reflects the number of Meetings held during the time that the Director held
office during the financial year.
2Attended in an ex-officio capacity.
3When not present in person, represented by an alternate, being
Roger Maynard during the 30 June 2001 financial year.
4When not present in person, represented by an alternate, being
Roger Maynard or John Rishton during the 30 June 2001 financial year.
5Attended one Meeting in an ex-officio capacity.
6Attended two Meetings in an ex-officio capacity.