In what may be one of the largest payouts in European business history, Ryanair CEO Michael O’Leary is expected to receive bonuses of over €100 million. It comes as the low-cost airline’s stock hit a major performance goal on Thursday, closing over €21 (£17.65) for the 28th day in a row.
If Mr. O’Leary remains with the airline until the end of July 2028, he will have the opportunity to collect 10 million shares, which are valued around €111.2 million (£93.3 million). Despite reporting a decline in full-year earnings, the Irish chief, who is renowned for his witty remarks, claimed earlier this month that Ryanair was “delivering exceptional value” to shareholders.
When questioned about the share option during an analyst call earlier this month, he responded, “I believe Ryanair shareholders are getting a particular value out of our share options – both mine and the rest of the management team.
“In an era where Premiership football players or managers receive 20 to 25 million dollars annually, we’re providing exceptional value for Ryanair shareholders.”
“The second condition is that Michael and the rest of the management team must remain employed by Ryanair until the end of July 2028, so these share options won’t vest for another three years yet,” Ryanair stated in a statement, adding that the bonus’s share price component was “on only one of two conditions.
Also Read:
Empowering Global Access Of High-Tech and Educational Services With Baxet Group: Anton Pankratov
Driving Visibility For Sustainable Innovation With Una Terra: Rodolfo Belcastro
