O'Leary extends Ryanair contract in deal that could net him over £130m
Summary
Michael O'Leary, the chief executive of Ryanair, has extended his contract until 2032. His new deal includes a bonus plan that could earn him over £130 million if the airline meets certain high profit and share price targets.Key Facts
- Michael O'Leary has been Ryanair's CEO since 1994.
- Ryanair grew from a small regional airline to Europe's largest low-cost carrier under his leadership.
- The contract extension lasts until April 2032.
- O'Leary may buy 10 million Ryanair shares at €26.70 each if profits reach €4 billion or the share price stays above €42 for 28 days in a row.
- Meeting these goals could earn him bonuses worth more than €150 million (£130 million).
- The company says these targets would increase value for all shareholders.
- Ryanair’s board worked closely with major shareholders to finalize the deal.
- Last year, O'Leary was on track to receive bonuses over €100 million based on share price performance.
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