Look, I’m not a businessman’s bootlace and I know it. Even allowing for that fact, I still think I’m fairly justified in seeing something odd in Qantas CEO Alan Joyce’s positive spin on the $2.8 billion loss his company posted yesterday.
In an interview on 7:30 last night, he seemed to suggest that maintaining a large share of the market was also a measure of success. And it certainly is, but to my simple mind, any fool can get a large share of the market by over-supplying their product and selling it below its value.
It’s almost as if Mr Joyce represents the logical conclusion of all those start-up companies that think they can pay people in recognition and exposure.
As such, here is my suggestion for the Qantas board:
Alan Joyce is far and away the most recognisable CEO in Australia. His exposure and recognition amongst CEOs is unchallenged. That has to be worth something, right? He also has 100% of the Qantas CEO market share. Therefore, I suggest that Mr Joyce be remunerated in recognition and market share too.