Ex-Virgin CEO Receives Remarkable Severance Package

Hrdlicka, who left Virgin in March, was given a cash package worth more than $20 million – including her salary, short-term incentives and longer-term bonuses – plus more than 10 million shares.

Those were worth $29.7 million when the airline went public and re-listed on the ASX in late June with a share price of $2.90.

However, that price has since climbed to more than $3.25, taking the total value of Hrdlicka’s payout to more than $50 million.

She had forfeited a further 6.8 million shares by resigning earlier this year.

Neither chair Peter Warne nor current chief executive Dave Emerson mentioned Hrdlicka in their annual report statements, however a passage later in the document outlined her role in turning the company around after it had fallen into voluntary administration during the pandemic.

“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 report states. 

“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 dwarfs even that of former Qantas boss Alan Joyce, who was handed $21 million when he left the national carrier in 2023. 

Since resigning from Virgin, Hrdlicka has since been appointed as the chief executive of alcohol giant Endeavour Group, which runs the likes of Dan Murphy’s, BWS as well as a string of pubs and its own drinks brands.