REG - Ryanair Holdings PLC - RYANAIR CEO SIGNS 5 YEAR CONTRACT EXTENSION <Origin Href="QuoteRef">RYA.I</Origin>

Ryanair HoldingsAnnouncement

29/10/2014 14:49

RNS Number : 2888V
Ryanair Holdings PLC
24 October 2014
RYANAIR CEO SIGNS 5 YEAR CONTRACT EXTENSION
Ryanair Holdings Plc today (24 Oct) confirmed that CEO, Michael O'Leary, has signed a new 5 year contract which commits him to the company until September 2019. This new contract replaces a rolling 12 month arrangement under which Mr O'Leary has worked as Chief Executive of the airline since Ryanair Holdings Plc first floated in 1997. 
Mr O'Leary has been granted options over 5m ordinary shares, payable at current market prices. However these options will only vest if the airline delivers exceptional performance targets over the next 5 years, which have been set by the Remuneration Committee. Ryanair expects to grow traffic over the next 5 years by 50% from 81m last year to over 120m customers by 2019. 
Mr O'Leary has served as Chief Executive of Ryanair since the company floated on the NASDAQ in 1997. During that time, Ryanair's annual traffic has grown from 3m to over 80m customers p.a.
For further information
please contact: Robin Kiely Joe Carmody 
 Ryanair Ltd Edelman Ireland
 Tel: +353-1-9451212 Tel: +353-1-6789 333 
 press@ryanair.com ryanair@edelman.com
 Follow us on Twitter: @Ryanair

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