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82
Directors’ Report continued
FOR THE YEAR ENDED 30 JUNE 2013
Statutory Table – CEO and Executive KMP
$’000
Base Pay
– Cash
FAR1
Incentive Plan
– Accounting Expense
Sub-total
Other Items
Other
Sub-total Total
STIP Cash
Bonus1
Share Based
Payments
Accounting Expense2
Non-cash
Benets1
Annual
Leave
Accrual1
Post-
employment
Benets
3
Other
Long-
term
Benets
Termination
Benets
STIP LTIP
Alan Joyce
Chief Executive
Ofcer
2013 2,109 775 375 1,794 5,053 24 (41) 55 21 – 59 5,112
2012 2,109 – 2,163 1,134 5,406 30 15 58 68 – 171 5,577
Gareth Evans
Chief Financial
Ofcer
2013981 233 3353661,91536(14) 3836 – 962,011
2012 906 – 543 194 1,643 36 10 39 32 – 117 1,760
Lesley Grant4
CEO Qantas
Loyalty
2013 785 178 228 162 1,353 33 1 34 (17) – 51 1,404
2012 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Simon Hickey
CEO Qantas
International
2013 984 213 284 280 1,761 16 62 35 55 – 168 1,929
2012 770 – 574 138 1,482 49 1 51 30 – 131 1,613
Jayne Hrdlicka
CEO Jetstar Group
2013 984 213 237 224 1,658 43 (23) 35 8 – 63 1,721
2012 759 – 141 48 948 34 4 36 3 – 77 1,025
Lyell Strambi
CEO Qantas
Domestic
2013 984 223 323 366 1,896 63 (1) 35 15 – 112 2,008
2012 909 – 579 215 1,703 75 16 36 14 – 141 1,844
Total 2013 6,827 1,835 1,782 3,192 13,636 215 (16) 232 118 – 549 14,185
2012 5,453 – 4,000 1,729 11,182 224 46 220 147 – 637 11,819
Statutory Table – Former Executive
Bruce Buchanan5,6,7 2013 493 155 267 (217) 698 15 23 30 – 649 717 1,415
Former CEO
Jetstar Group
2012 849 – 571 202 1,622 52 (16) 36 (118) – (46) 1,576
1 Short-term employee benets include base pay (cash FAR), STIP cash bonus, non-cash benets, and annual leave accrual.
2 A breakdown of Share-based Payments is provided on page 92.
3 Post-employment Benets include superannuation and an accrual for post-employment travel of $38,714 for Mr Joyce and $18,857 for each other Executive (2012: $42,080 for
Mr Joyce and $20,540 for each other Executive).
4 Remuneration for Ms Grant reects her commencing in a key management role on 1 July 2012.
5 Mr Buchanan ceased being a KMP on 30 June 2012.
6 Following cessation of Mr Buchanan’s employment on 31 January 2013, his 2012/13 STIP will be paid in cash. A STIP cash bonus accrual of $154,894 was included in his 2012/2013 remuneration.
7 Includes contractual payments paid upon cessation of Mr Buchanan’s employment.
6 EXECUTIVE REMUNERATION STRUCTURE
Base Pay
also referred to
as Fixed Annual
Remuneration
orFAR
What is FAR?
FAR is a guaranteed salary level, inclusive of superannuation. FAR is reviewed annually under normal
circumstances, and the opportunity for an annual review is included in the employment contracts of
Executives at Qantas. An individual’s FAR, being a guaranteed salary level, is not related to Qantas’
performance in a specic year.
Cash FAR, as disclosed in the remuneration tables, excludes superannuation (which is disclosed as
Post-employment Benets) and includes salary sacrice components such as motor vehicles. Movements
in the value of annual leave balances during the year are disclosed as Annual Leave Accrual.
How is FAR set?
In performing a FAR review, the Board makes reference to external benchmark market data including
comparable roles in other listed Australian companies and international airlines. The primary benchmark
is a revenue-based peer group of other S&P/ASX companies. The Board believes this is the appropriate
benchmark, as it is the comparator group whose roles best mirror the size, complexity and challenges in
managing Qantas’ businesses and is also the peer group with whom Qantas competes for Executive talent.
Remuneration Report (Audited)
c
ontinue
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