Ryanair boss on target for bonus worth more than €100m
Summary
Ryanair's CEO, Michael O'Leary, is set for a bonus over €100 million if he stays with the airline until July 2028. This follows Ryanair's shares meeting a key target by maintaining a high value for 28 days in a row. The bonus plan includes holding onto the shares for three more years as a condition.Key Facts
- Ryanair shares stayed above €21 for 28 days, hitting a performance target.
- Michael O'Leary, Ryanair's CEO, can receive 10 million shares, valued at over €111 million, if he remains with the company until 2028.
- The bonus is one of the largest potential payouts in European corporate history.
- O'Leary has been with Ryanair since 1988 and became CEO in 1994.
- The bonus plan started in 2019 when O'Leary became group chief executive.
- A think tank known as the High Pay Centre criticized the size of the bonus.
- A similar bonus plan exists for Wizz Air’s CEO, József Váradi.
- Ryanair recently dealt with a legal issue involving salary increases for flight attendants in Spain.
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