Portfolio

Ryanair shareholders almost block O'Leary's €99m bonus

By Duncan Ferris

Date: Thursday 19 Sep 2019

Ryanair shareholders almost block O'Leary's €99m bonus

(Sharecast News) - Ryanair investors launched a significant revolt on Thursday, almost blocking a pay report that granted chief executive Michael O'Leary a bonus that could be worth as much as €99m (£88m).
The pay report squeaked through with just 50.5% of the vote, with the airline facing significant shareholder opposition due to a lack of dividend payments since 2016 as it struggles with delayed deliveries of Boeing 737 MAX aircraft and recent industrial unrest.

Almost a quarter of investors also voted against the re-election of longtime chairman David Bonderman, who is set to step down next year amid management restructuring.

The bonus stipulated in O'Leary's new five-year employment contract could reach €99m as he was issued options for 10m shares at a strike price of €11.12, which will be available if the company books a €2bn profit and/or its share price surpasses €21.

The company said: "Ryanair is, and will continue to, consult with its shareholders, and we will report back to them over the coming year on how the board will adapt its decision making to reflect their advice and input on all these topics."

Ryanair shares were down 0.59% at €9.83 at 1201 BST.

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