Ryanair boss’ £88m pay ignites investor revolt
Ryanair Chief Executive Michael O’Leary is facing a vicious backlash from investors this week, after he won a marginal vote to pay him £88m – despite ongoing controversies surrounding proposed job losses, strikes and working conditions.
The Irish international airline revealed that just 50.5% of investors voted in favour of the company’s remuneration report. The subsequent investor revolt has arrived at a difficult time for Ryanair which is facing more strike action from pilots and is scheduled to cut up to 700 jobs.
A company statement following the vote read: “Ryanair is, and will continue, to consult with its shareholders and we will report back to them over the coming year on how the board will adapt its decision-making to reflect their advice and input on all these topics.”
Earlier this year, O’Leary signed a new contract to stay on as chief executive at the airline until 2024.