Sep 19, 2019

Ryanair boss O'Leary's £99m pay sparks investor revolt

Nearly half of Ryanair's shareholders voted against a pay deal for Michael O'Leary that could hand the chief executive €111m. The Irish airline said that just 50.5% of investors voted in favour of the company's remuneration report. Mr O'Leary has been awarded 10 million shares which will pay out in five years if he doubles Ryanair's profit or share price. These are shares he can acquire for €11.12 and then sell at the market price if Ryanair's profits hit €2bn in any year up to 2024 or its share price reaches €21 for a period of 28 days from April next year. Ryanair said Mr O'Leary's agreement to stay for another five years "Gives certainty to our shareholders". Ryanair is facing more strike action this month in a row with pilots over pay and conditions.

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