This report follows a review of key governance matters at Qantas Airlines.

The review, which commenced in October 2023 and considered matters over the preceding 12 months, scrutinised the decision-making and governance processes of the Board that led to the loss of trust amongst stakeholders.

The review involved external and internal input on several separate key governance matters identified by the Board. 

The review found that mistakes were made by the Board and management which contributed to the Group’s significant reputational and customer service issues. There were no findings of deliberate wrongdoing.

The Board, led by Chairman Richard Goyder and Chairman Elect John Mullen, and the management team have committed to implementing actions to address all 32 recommendations in the report, with many actions already completed or underway.

 These include:

• Changes implemented to increase more detailed reporting to the Board on customer metrics, employee engagement and key stakeholder relations.
• Amendments made to the Group’s remuneration framework.
• Tightened protocols for the approval of share trading by the Group CEO and senior management.
• Enhanced Board consultation and approval required for involvement in significant stakeholder and community issues.

These actions are in addition to organisational changes, including the appointment of two new Independent Non-Executive Directors and the commencement of a transition to a new Chairman and senior management renewal with the early commencement of a new Group Chief Executive Officer.