Ryanair boss’ £88m pay ignites investor revolt

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Ryanair

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.

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