Michael O'Leary lines up £133m payday in deal to stay at Ryanair until 2032
Under the deal, the 65-year-old will be granted lucrative share options subject to him remaining at the group until April 2032.
Ryanair chief Michael O’Leary has extended his contract with the budget airline in a deal which could put him in line for a €153million (£133million) pay day.Under the deal, the 65-year-old will be granted lucrative share options subject to him remaining at the group until April 2032 and if annual profit reaches €4billion - or if the share price exceeds €42 for 28 successive days‘Achievement of these very ambitious targets would create substantial additional value for all Ryanair shareholders,’ the airline said in a statement.O’Leary has been the dominant force at the airline since taking over as chief executive in 1994, transforming it from a small regional carrier to Europe’s largest by passenger numbers.
Extended: Ryanair chief Michael O’Leary has extended his contract with the budget airline RELATED ARTICLES Previous 1 2 Next United Utilities boss pockets £2.5m despite pollution... Gilt yields spike amid fears of lurch to the Left under...
ALEX BRUMMER: Burnham needs to back enterprise for a fresh... Share this article Share HOW THIS IS MONEY CAN HELP Best investment platforms: How to choose the right account for you Ryanair last month posted a record full-year post-tax profit of €2.26billion.
Its share price closed at €25.72 yesterday.A previous share option scheme is set to earn him as much as €100million after Ryanair hit a share price target in his last contract.
O’Leary has said the payout would be good value compared to the salaries of football stars.The airline said O’Leary’s remuneration, comprising a ‘modest annual salary and a capped annual bonus’, will be tabled at September’s annual general meeting for shareholder approval.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosLearn MoreLearn MoreHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasLearn MoreLearn Moreinteractive investorinteractive investorFlat-fee investing from £4.
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