Qantas 2004 Annual Report Download - page 70

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9. Director and executive disclosures continued
REMUNERATION OF SPECIFIED EXECUTIVES FOR THE YEAR ENDED 30 JUNE 2004
Specified Executives and the Highest Remunerated Executives
Primary Post Employment Equity Other
Benefits Benefits Benefits Benefits Total
Non-Cash End of Super- Termin-
Cash FARIncentivesBenefits Total Serviceannuation Travel Total ation
$$$$$$$$$$$
Denis Adams,
Executive General Manager
Associated Businesses 574,310 231,000 108,860 914,170 142,500 82,054 9,300 233,854 151,4913– 1,299,515
Fiona Balfour,
Chief Information Officer and
Executive General Manager
Qantas Business Services 506,862 190,000 190,143 887,005 158,175 56,172 9,300 223,647 92,8913– 1,203,543
John Borghetti,
Executive General Manager
Qantas 658,321 290,000 193,285 1,141,606 133,428 110,209 9,300 252,937 166,3503– 1,560,893
Kevin Brown,
Executive General Manager
People 630,289 221,000 131,810 983,099 166,299 36,754 9,300 212,353 223,7723– 1,419,224
Grant Fenn,
Executive General Manager
Airports and Catering 629,561 221,000 174,560 1,025,121 135,622 11,918 9,300 156,840 140,5983– 1,322,559
David Forsyth,
Executive General Manager
Aircraft Operations (1 July 2003
– 15 December 2003) 314,911 3,587183,828 402,326 130,000 38,878 9,300 178,178 100,2913328,500 1,009,295
Total remuneration for
Specified Executives 3,314,254 1,156,5872882,486 5,353,327 866,024 335,985 55,800 1,257,809 875,3933328,500 7,815,029
The Corporations Act requires the disclosure of the five most highly remunerated Executive Officers of the Company. One Qantas Executive, who did not meet
the definition of a Specified Executive, is one of the five most highly remunerated Executives for the year, due to the payment of service and other leave
benefits on termination. His remuneration is set out below on the same basis as the Specified Executives.
John Anderson,
Group General Manager
Airports (1 July 2003 –
31 December 2003) 364,067 – 18,097 382,164 61,000 32,428 4,650 98,078 64,672 413,000 957,914
In addition to the remuneration earned in the current year, Mr Anderson received payment of $656,813 resulting from service termination provisions within his
employment contract and accrued long service leave, which were earned and accrued prior to 1 July 2003. Mr Anderson has 518,000 entitlements under the
QLTEIP which will lapse 12 months after his termination date unless converted.
1 For Long-term incentive plans refer to page 69.
2 Comprises Cash incentives totalling $1,153,000 and Long-term incentives totalling $3,587.
3Equity Benefits PRP QLTEIP DSP Total
$$$$
Denis Adams 22,122 48,972 80,397 151,491
Fiona Balfour 18,961 23,917 50,013 92,891
John Borghetti 25,282 48,972 92,096 166,350
Kevin Brown 18,961 133,000 71,811 223,772
Grant Fenn 22,122 48,972 69,504 140,598
David Forsyth – 74,028 26,263 100,291
John Anderson – 48,972 15,700 64,672
Directors’ and Officers’ liability insurance has not been included in the above figures since it is not possible to determine an appropriate
allocation basis.
Notes to the Financial Statements continued
for the year ended 30 June 2004
68 Qantas Annual Report 2004