Create your own newsfeed Director of Ryanair plc, the total compensation of Mr Leary at Ryanair plc is €1,830,000. Michael O’Leary’s net worth estimate is $100,000 - $1M.

Michael O'leary J Overview. O’Leary was paid a total package of €3.4m last year, including bonus and share awards. Michael O'Leary waived his €1m bonus last year - but it's not going to hit his pocket too hard The Ryanair CEO’s shares alone are worth €631.8 million. RYANAIR BOSS MICHAEL O’Leary’s pay package totalled €3.38 million – or €9,260 a day – in the past year.That is according to the Ryanair annual report which shows that O’Leary has received a bonus of €770,000 for his performance as he oversaw revenues increasing by 6% to €7.6 billion in the 12 months to the end of March this year.During the year under review, Ryanair’s passenger numbers climbed by 9% to 142 million as additional costs and cheaper fares contributed to pre-tax profits reducing by 35% to €948 million.The bonus of €770,000 followed the Ryanair boss losing out on almost €1 million in bonus pay in 2017/18 after volunteering to waive all of his performance bonuses as a result of the pilot rostering failure at the airline.In the 12 months to the end of March 2019, O’Leary’s basic salary was €1.06 million; the bonus payment of €770,000 and share based compensation of €1.55 million.The pay package to O’Leary in the 12 months to the end of March represents an increase of 46% on the €2.3 million pay package the previous year.O’Leary signed a new five-year contract commencing on April 1st of this year and is due to expire 31 July 2024.The report reveals that O’Leary has agreed to a 50% cut in base pay from approximately €1 million to €500,000 per annum and a 50% cut to his maximum annual bonus to €500,000.The report states that the new contract also includes 10 million share options at a strike price of €11.12 which are exercisable at a price of €11.12 if the net income of Ryanair exceeds €2 billion in any year up to 2024.The report states that these ambitious profit and share price targets means that Mr O’Leary “is fully aligned with, and committed to delivering superior returns for shareholders over the next 5 years”.The report states: “The maximum annual accounting cost of the Group CEO’s remuneration is €2.8m over the 5-year term, comprising of base pay of €500,000 per annum, maximum performance bonus of up to €500,000 per annum and a €1.8m charge for 10m share options granted.”The report states that O’Leary’s remuneration is considerably lower than many other European airline CEOs and less than O’Leary was paid in fiscal year 2016, 2017 and 2019O’Leary has a 3.9% share in Ryanair which today has a value of €416m.The value of Mr O’Leary’s shareholding has dropped by €215 million from €631 million this time last year as the market capitalisation of Ryanair has reduced from €16.2 billion to €10.69 billion today.The aggregate pay by Ryanair to its nine executive officers topped €12.4 million in the 12 months to the end of March last.Last year, Ryanair added 2,200 new jobs as numbers employed increased to over 16,840.In his chief executive’s report, O’Leary described some of the challenges faced by Ryanair in the past year when he said: “Summer 2018 was a very difficult period with a heat wave in Northern Europe, the distraction of the Soccer World Cup in Russia, significant overcapacity in the EU market and an unprecedented series of Air Traffic Control strikes and staff shortages, which caused thousands of flight delays and cancellations for all airlines.”He added: “We responded to these conditions by judicious base closures at Bremen and Eindhoven and capacity cuts at other underperforming bases.”To embed this post, copy the code below on your siteAccess to the comments facility has been disabled for this userPlease note that TheJournal.ie uses cookies to improve your experience and to provide services and advertising. Create my newsfeed He waived his bonus during the preceding 12 months, following flight cancellations sparked by a pilot roster mix-up.Mr O’Leary began a new five-year contract as group chief executive on April 1st that will run until July 31st, 2024.Ryanair’s annual report states that Mr O’Leary agreed a 50 per cent cut in basic pay to €500,000 a year from €1 million a year under the new contract, and a 50 per cent cut to his maximum bonus to €500,000 a year.The contract includes 10 million share options which Mr O’Leary can exercise at €11.12 if Ryanair’s net income exceeds €2 billion in any year up to 2024 and/or its share price exceeds €21 for a period of 28 days between April 1st, 2021 and March 31st, 2024.“The maximum total cost of the group chief executive officer’s remuneration is therefore €2.8 million per annum (including a €1.8 million share-based payments accounting charge) over the five-year term of the group chief executive officer’s contract of employment,” the report states.Mr O’Leary already owned 44 million shares – 3.9 per cent – in the airline at the end of June. That stake was worth about €417 million at yesterday’s closing price of €9.478.The board considered chairman David Bonderman’s independence as he holds 7.5 million Ryanair shares and concluded that this was not material enough to breach the spirit of the independence rule contained in the Nasdaq corporate governance code.Get the latest business news and commentary from our expert business team every weekday


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https://jrnl.ie/4747007 Please familiarise yourself with our comments policy He is one of Ireland's wealthiest businessmen.




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