Qantas 2002 Annual Report Download - page 32

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p30 2002 QANTAS ANNUAL REPORT
directors’ report continued
for the year ended 30 June 2002
Further information about likely developments in the operations of the Qantas Group and the expected results of those
operations in future financial years has not been included in this Directors’ Report because disclosure of the information could
be unreasonably prejudicial to the Qantas Group.
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:
Audit, Safety,
Risk & Environment
Compliance & Security Chairman’s
Qantas Board Committee Committee Committee
Directors Attended Held1Attended Held1Attended Held1Attended Held1
Margaret Jackson 11 11 3234
2422
Geoff Dixon 11 11 323242
22
Peter Gregg 11 11 3231
24
Mike Codd 911 3 3 4 4
Trevor Eastwood 11 11 3 3 2 2
Rod Eddington 336
Jim Kennedy 11 11 3 3 2 2
Trevor Kennedy 11 11
Roger Maynard 11 11 3 3 122
John Schubert 11 11 4 4
Nick Tait 11 11 4 4 2 2
1 Reflects the number of meetings held during the time that the Director held office during the financial year.
2 Attended meetings in an ex-officio capacity.
3 When not present in person, represented by his alternate Roger Maynard.
Directors’ interests and benefits
Particulars of Directors’ interests in the share capital of Qantas at the date of this Report are as follows:
2002 2001
Directors’ Ordinary Shares Number Number
Margaret Jackson 117,284 110,022
Geoff Dixon 14,504 13,718
Peter Gregg 4,292 3,974
Paul Anderson 25,000 –
Mike Codd 9,376 8,000
Trevor Eastwood 11,857 10,366
Jim Kennedy 1,975 1,000
Trevor Kennedy 122,750 120,800
John Schubert 30,975 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 expiry of the relevant senior executive’s service contract, based on the financial
performance of the Qantas Group. Performance is determined on a range of criteria including the Qantas Total Shareholder