Key facts
- Ryanair CEO Michael O'Leary has agreed to a six-year contract extension until April 2032.
- The new contract includes a potential payout of €150 million tied to performance targets.
- O'Leary will receive a one-off purchase option over 10 million shares.
- Performance targets include the share price exceeding €42 for 28 consecutive days.
- The payout is also contingent on Ryanair's annual net profit growing over €4 billion.
- Ryanair chairman Stan McCarthy stated the extension is for the benefit of all shareholders.
Ryanair CEO Michael O'Leary has secured a six-year contract extension, set to keep him at the helm of the budget airline until April 2032. The new agreement includes a substantial potential payout, estimated at €150 million, contingent on ambitious performance targets. These targets involve the airline's share price exceeding €42 for 28 consecutive days and annual net profit surpassing €4 billion. O'Leary will also receive a one-off purchase option for 10 million shares at €26.70 each. The contract also stipulates a modest annual salary and a capped annual bonus, which will be put to shareholders for an advisory vote. Ryanair chairman Stan McCarthy expressed satisfaction with the extension, emphasizing its benefit to shareholders. O'Leary, known for his outspoken nature, has led Ryanair for over three decades and is currently the carrier's sixth-largest shareholder with over 40 million shares.