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Hrdlicka’s shares are still subject to escrow conditions but will be released between February next year and August 2027.
The former Virgin boss was not mentioned by the airline’s chairman Peter Warne, or her chief-executive replacement Dave Emerson, in their letter to shareholders in the annual report, despite the fact she was running the airline for most of the financial year.
“During her tenure, Jayne successfully led the group’s exit from voluntary administration, stand up of the airline following the COVID-19 pandemic and the transformation of Virgin Australia into a profitable and sustainable business,” the annual report says on page 67.
“In addition, during FY25 Jayne led Virgin Australia’s deeper strategic partnership with the Qatar Airways Group, including a 25 per cent equity investment and enhanced strategic alliance.”
Hrdlicka’s payout is in stark contrast to the controversial departure of her former boss at Qantas, Alan Joyce.
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The Qantas board docked more than $9 million from Joyce’s final pay packet for the 2024 financial year following a board-commissioned review of the airline’s management.
He was paid $15 million for his last year leading the company, and received a further $3.8 million worth of shares last year.
Hrdlicka is already moving on to another challenging role. One month after her departure from Virgin, the liquor, pubs and pokies giant Endeavour announced that she would be taking over as its new chief executive.
“I have a long history with Endeavour’s retail and hotel businesses, initially as a consultant to Woolworths, including on their early liquor strategy, and then as a Woolworths Group board member,” she said at the time of her announcement.
The company has already run into turbulence with the sudden resignation last month of Endeavour’s executive chairman Ari Mervis, after a boardroom disagreement. Hrdlicka is due to start her role in January.
Hrdlicka will be paid an annual salary of $2 million, with short-term bonuses of up to $3 million and long-term incentives of $4 million.
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