Sep 20, 2018
Ryanair rejects investor pressure to oust chairman
Ryanair has rejected investor pressure for the departure of its long-serving chairman, while its chief executive resisted calls from pilot unions to stand down following a summer-long dispute over pay. David Bonderman, who has served as chairman for 22 years, was re-elected to the board with the support of 70.5 per cent of shareholders at the company's annual general meeting in Dublin. Mr O'Leary, who has faced demands from pilot unions to stand down after a summer of unrest and strikes that grounded some flights, said he had accepted an invitation to enter talks on a new contract when his expires next year. Kieran McLoughlin, senior independent director and a member of the board for 17 years, said the board had changed over the years: "There are plans for rotation. There are plans for renewal." On the potential renewal of his contract, Mr O'Leary said the process would be "Subject to extensive and what will undoubtedly be painful negotiations with Mrs O'Leary."
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