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Ryanair investors revolt over Michael O’Leary’s £129m pay deal
The airline said it will discuss the result with investors after 61% backed a plan that could pay Michael O'Leary at least €150 million.
- On Thursday, Ryanair shareholders approved a new pay contract for CEO Michael O'Leary running through 2032, with 61% voting in favor despite 39% opposition at the Dublin annual meeting.
- Designed to retain O'Leary until 2032, the package grants him an option to buy 10 million shares, potentially netting at least £150 million, following his tenure as chief executive since 1994.
- Ryanair's July quarterly profits slumped by more than a third to £462 million, hit by surging jet fuel prices and a 6% drop in average fares, though passenger numbers grew 6%.
- Following the vote, Ryanair stated it will consult with shareholders to understand the reasons behind the 39% opposition, though the £150 million package secured necessary approval.
- Andrew Hollingworth of Holland Advisors, an investor in Ryanair, described O'Leary as "one of Europe's very best CEOs," arguing the incentive package will keep him at the airline for six more years.
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The philanthropist Michael O'Leary enjoys almost total support for his work. But his new salary package is facing strong opposition.
·Copenhagen, Denmark
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Ryanair shareholders have approved a new compensation package for CEO Michael O'Leary, the potential value of which could exceed 150 million.
At the annual general meeting of the airline held in Dublin, four out of ten investors voted against a new contract that will be in force from 2028 to 2032.
Coverage Details
Total News Sources17
Leaning Left4Leaning Right2Center3Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 33%
R 22%
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