World, As Seen from Trinity Street, Dublin, Ireland

Michael O’Leary got a bonus despite protests

M

Almost half of all Ryanair shareholders voted against the remuneration of CEO Michael O’Leary. A tight majority of 50.5 percent gave the green light for a performance bonus at the shareholders’ meeting. That could provide O’Leary with almost 99 million euros.

The performance bonus includes an option to purchase 10 million Ryanair shares for 11.12 euros. This reward will only be paid in full if the airline doubles its profitability within five years or if the price per share of the company exceeds 21 euros. In the latter case, O’Leary would earn EUR 9.88 per share.

The protest votes come in a period of strikes at the Irish budget company. British pilots began a two-day work break on Wednesday, following previous actions to enforce wage negotiations with Ryanair. Strikes elsewhere in Europe also cause headaches for the airline. Ryanair saw a significant fall in profits in the past financial year, partly due to increased personnel costs.

Add comment

World, As Seen from Trinity Street, Dublin, Ireland

Recent Posts

Categories