Ryanair Extends O'Leary's CEO Contract up to 2032
The deal could pay O'Leary more than €150 million if Ryanair hits profit or share-price targets, and shareholders will vote on it in September.
- On Friday, Ryanair CEO Michael O'Leary extended his contract to 2032, securing a deal with a bonus scheme potentially worth more than €150 million for the 65-year-old.
- Ryanair chairman Stan McCarthy said the board commenced discussions this spring with extensive shareholder engagement, concluding with O'Leary agreeing to extend his leadership for six more years.
- O'Leary would be granted options to buy 10 million shares at €26.70 per share if annual profit reached €4 billion or if the share price exceeds €42 for 28 successive days.
- The airline said O'Leary's remuneration, comprising a "modest annual salary and a capped annual bonus", will be tabled at September's annual general meeting for shareholder approval.
- Since 1994, O'Leary has transformed Ryanair into Europe's largest carrier by passenger numbers; record €2.26 billion post-tax profits last month underscore the airline's strength, while a previous share scheme is set to earn him €100 million.
28 Articles
28 Articles
The well-known Ryanair chief Michael O such as Michael Leary remains in office. He extends his contract until April 2032 – despite the pressure from high kerosene costs and geopolitical uncertainties.
BT
Kristeligt DagbladAirline Ryanair has entered into a new agreement with CEO Michael O'Leary.
The Board of Directors of Ryanair Holdings signed on Friday the signing of a new agreement guaranteeing the continuity of Michael O'Leary as CEO of the group until April 2032. With this renewal, O'Leary will extend his tenure at the head of the airline beyond 2028, the date on which his current term of office expired, and will continue in office after reaching the age of 70. Linked to the company since 1988, when he joined as Chief Financial Off…
The new Irish contract provides for a modest annual salary. But a good surprise could wait until the day of his retirement. ...
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