Ryanair Holdings PLC Anne Nolan To Join Board Of Ryanair Holdings PLC (9794I)
07 Dicembre 2022 - 07:26PM
UK Regulatory
TIDM0RYA TIDMRYA
RNS Number : 9794I
Ryanair Holdings PLC
07 December 2022
ANNE NOLAN TO JOIN BOARD OF RYANAIR HOLDINGS PLC
MICHAEL O'LEARY EXTENDS GROUP CEO CONTRACT TO JULY 2028
Ryanair Holdings plc today (7 Dec.) announced the appointment of
Ms. Anne Nolan (former Chair of the Irish Aviation Authority - IAA)
to its Board as a NED. The Group also confirmed that agreement has
been reached with Group CEO, Michael O'Leary to extend his contract
from July 2024 to July 2028.
Anne Nolan - NED:
The Board today announced the appointment of Ms. Anne Nolan as a
non-executive director ("NED") with immediate effect. Ms. Nolan is
a former Chair of the IAA (from 2010 to 2018) and previously served
as Chief Executive of the Irish Pharmaceutical Healthcare
Association. She has also served on various Boards incl. the Food
Safety Authority of Ireland, the Irish Medicines Board, the
Executive Committee of the European Federation of Pharmaceutical
Industries and the Board of the Smurfit Graduate School of
Business.
Michael O'Leary - Group CEO:
The Board confirmed (following some months of discussions with
Michael O'Leary ("MOL") and extensive engagement with larger
shareholders) that they have today agreed a contract extension
which will see MOL remain as Group CEO until the end of July 2028
(previously July 2024). Under this extended contract the final
vesting date for share options granted in 2019 will be extended to
2028 (from 2024), subject to MOL remaining in employment with the
Group until July 2028 and delivering stretched performance targets
(incl. raised PAT targets of up to EUR2.2bn and/or a share price of
EUR21) which will considerably reward all shareholders if these
ambitious targets are delivered. If these targets are not achieved
then these share options will lapse and MOL will receive nothing
other than his basic salary. An amended Remuneration Policy,
reflecting these changes, will be tabled at Ryanair's 2023 AGM.
Ryanair's Chairman Stan McCarthy said:
"I am pleased to welcome Anne Nolan to the Board as Ryanair's
newest NED. Anne brings considerable aviation, business and
regulatory experience to the role. We all look forward to working
with her over the coming years to achieve Ryanair's ambitious
growth and environmental goals.
The Board are also pleased that Michael O'Leary has agreed to
extend his leadership of the Ryanair Group to July 2028. During
this time Michael will oversee the Group's growth to 225m
passengers p.a. and, with Board support and oversight, develop the
Group's strategy to the end of the decade. This contract extension,
which involved extensive engagement with large shareholders and
proxy advisors, is subject to the adoption of an amended
Remuneration Policy which will be tabled at Ryanair's 2023
AGM."
ENDS
For further information Peter Larkin Piaras Kelly
please contact: Ryanair Holdings plc Edelman
www.ryanair.com Tel: +353-1-9451212 Tel: +353-1-6789333
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END
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(END) Dow Jones Newswires
December 07, 2022 13:26 ET (18:26 GMT)
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