Qantas’ limp wrist-slap of Alan Joyce and the board is a mere rounding error

In the great tradition of Australian corporate mea culpas, the Qantas board has decided to give itself a very light wrist tap following its damning governance report into its performance and management.

The report — by former McKinsey partner Tom Saar, whose old consulting company has a major contract with Qantas — says everything that observers have long noted: the board was in thrall to ex-CEO Alan Joyce, was short in skills, was too reactive, was too collegiate. The fact Qantas needed an expensive external review to tell it this says all you need to know about the airline.