No bonus for Qantas CEO

THE head of Qantas has become the latest chief executive to succumb to investor pressure by deciding not to accept a bonus this year.

The airline has confirmed that Alan Joyce will not be receiving a bonus when the company announces its profit results later this week.

Mr Joyce joins Marius Kloppers of BHP Billiton, Tom Albanese of Rio Tinto and Paul O'Malley of BlueScope Steel in forgoing big bonuses in the face of declining fortunes for their shareholders.

The body representing many small investors wants CEOs to go further and take actual pay cuts.

"In the current reporting season, where the companies haven't achieved their targets and the executives really haven't really achieved their results for shareholders, then they must certainly hand back their bonuses," said the Australian Shareholders Association's chief executive Vas Kolessnikoff.

Read more at ABC news online.


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