Todd Sampson survives Qantas investor anger, but for how long?
Former advertising executive Todd Sampson says he “reflected a lot” on whether he would put himself up for reelection to the Qantas board before deciding his experience was needed to help restore the airline’s reputation.
In a pitch for survival, Mr Sampson told Qantas’ annual meeting he deserved reelection for two reasons: corporate memory and brand expertise.
Todd Sampson has held onto his seat on the board of Qantas. Joe Armao
“Our brands and reputation have suffered considerable damage, damage that we can and will repair,” Mr Sampson told investors.
“I’ve spent a career helping other clients in similar brands situations that we now find ourselves in this repairing, at least in the initial stages. This is why my experience will be most valuable… with your continued support I look forward to helping revert Qantas back to its iconic status.”
Mr Sampson briefly acknowledged his role in presiding over the myriad disasters engulfing Qantas. To his mind, however, he provides not only corporate memory on the board but also “personal accountability [having] been there as someone [who] was involved in all those decisions, and many decisions that [Qantas] will make going forward in the future”.
“I just want to say I take full responsibility for my role on the board and the attention that that has brought,” Mr Sampson added.
Two influential proxy advisors firms, Ownership Matters and the Australian Council of Superannuation Investors, as well as major investors including Future Fund, were staunchly against his reelection and their opposition is unlikely to have been softened by the pitch.
They said Qantas was better off without Mr Sampson’s input on brand, given the implosion of the airline’s once strong reputation and that
Read more on afr.com
