2 days ago
5
Virgin Australia’s former chief executive Jayne Hrdlicka departed the recently listed airline with cash and shares worth more than $50 million, according to the group’s annual report which was released on Friday morning.
Hrdlicka, who took over at the airline soon after its pandemic-induced financial collapse in 2020, left in March this year - months before its successful relisting on the ASX in June.
Jayne Hrdlicka will collect nearly $50 million after leaving Virgin Australia.Credit: Dan Peled
According to the report, she received cash payments of more than $20 million, with $18.4 million representing short-term incentives which will be paid this month.
But the biggest bonus will be from 10.244 million shares she received as part of a 2021 management equity plan (MEP) which were worth $29.7 million at the time of the airline’s public float but are currently worth around $33 million.
Loading
These shares are still subject to escrow conditions but will be released between February next year and August 2027.
More to come
The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.
