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63 Qantas Annual Report 2008
Directors’ Report
for the year ended 30 June 2008
Remuneration Report (Audited) continued
Short-term Employee Benefits of Key Management Personnel and Highest Remunerated Executives
for the Year Ended 30 June 2008
Set out in the following tables are the Short-term Employee Benefi ts provided as remuneration for the Key Management Personnel (KMP) and
Highest Remunerated Executives during the year:
Short-term Employee Benefi ts
Directors Year
Cash
FAR
$
Cash
Incentives
$
Non-cash
Benefi ts
$
Total
$
Leigh Clifford, 2008 288,2561–6,191294,447
Chairman (Non-Executive Director from 9 Aug 07 – 30 Jun 08) 2007 n/a n/a n/a n/a
Mike Codd, 2008 173,2001 – 3,328 176,528
Non-Executive Director 2007 101,287 – 34,201 135,488
Peter Cosgrove2,2008 172,9911 – 57,272 230,263
Non-Executive Director 2007 83,957 – 51,485 135,442
Patricia Cross, 2008 176,0721 –61,042 237,114
Non-Executive Director 2007 80,343 – 155,251 235,594
Richard Goodmanson, 2008 4,317 – – 4,317
Non-Executive Director (from 19 Jun 08 – 30 Jun 08) 2007 n/a n/a n/a n/a
Garry Hounsell, 2008 214,471 – 60,213 274,684
Non-Executive Director 2007 217,914 – 78,965 296,879
John Schubert, 2008 187,271 – 6,412 193,683
Non-Executive Director 2007 167,914 – 6,589 174,503
James Strong, 2008 187,271 – 33,580 220,851
Non-Executive Director 2007 167,914 – 31,138 199,052
Barbara Ward3,2008 15,905 – – 15,905
Non-Executive Director (from 19 Jun 08 – 30 Jun 08) 2007 n/a n/a n/a n/a
Geoff Dixon, 2008 2,308,9554 3,010,2865218,412 5,537,653
Chief Executive Offi cer 2007 2,180,168 2,915,000 259,217 5,354,385
Peter Gregg, 2008 1,329,5344 1,485,7145242,180 3,057,428
Chief Financial Offi cer and EGM Strategy 2007 1,251,010 1,494,000 213,587 2,958,597
Total – current Directors at 30 June 2008 5,058,243 4,496,000 688,630 10,242,873
2007 4,250,507 4,409,000 830,433 9,489,940
Margaret Jackson, 2008 174,1971 –44,741218,938
Chairman (1 Jul 07 – 14 Nov 07) 2007 453,388 – 110,911 564,299
Paul Anderson, 2008 139,818 – – 139,818
Non-Executive Director (1 Jul 07 – 16 Apr 08) 2007 154,800 – 1,688 156,488
James Packer, 2008 20,795 – – 20,795
Non-Executive Director (1 Jul 07 – 31 Aug 07) 2007 118,349 – – 118,349
Total – Directors during the year ended 30 June 2008 5,393,0536 4,496,000 733,371 10,622,424
2007 4,977,044 4,409,000 943,032 10,329,076
Cash FAR for the Non-Executive Directors is stated after deducting statutory superannuation contributions and the following additional salary sacrifi ced amounts: $90,153 for Mr Clifford,
$41,271 (2007: $92,427) for Mr Codd, $14,280 (2007: $83,957) for General Cosgrove, $11,199 (2007: $86,342) for Mrs Cross and $21,177 (2007: $49,926) for Ms Jackson.
General Cosgrove receives payments for services rendered as a Director of Qantas Superannuation Limited.
Ms Ward also receives payments for services rendered as a Director of a number of Qantas subsidiar y leasing companies. Remuneration refl ects payments received for the period 19 June 2008
to 30 June 20 08.
Mr Dixon’s FAR for the year was based on $2,430,000 from 1 July 2007 to 31 December 2007 and $2,630,000 from 1 January 2008 to 30 June 2008 (20 07: $2,370,0 00) less salary sacrifi ced
components of $221,045 (2007: $189,832). Mr Gregg’s FAR for the year was based on $1,450,000 from 1 July 2007 to 31 December 2007 and $1,520,000 from 1 January 2008 to 30 June
2008 (20 07: $1,412,500) less salary sacrifi ced component s of $155,4 65 (2007: $161,490).
Mr Dixon was paid an additional cash incentive of $214,286 (2007: nil) and Mr Gregg was paid an additional cash incentive of $85,714 (2007: $44,000) during the year.
Total Non-Executive Direc tor Cash FAR paid inclusive of additional salar y sacrifi ced elements and travel allowances was $1,932,644 (2007: $1,858,518). Effective 1 July 2007, each
Non-Executive Director was paid an annual base fee inclusive of superannuation of $136,000 (2007: $129,000) and the Chairman $544,000 (2007: $516,000) which includes Committee
fees. Committee fees for other Non-Executive Directors were $27,200 (2007: $25,800) per Committee Membership and $54,400 (2007: $51,600) per Committee Chairmanship.
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