- Ryanair has agreed a contract extension for Michael O’Leary .
- The agreement extends his role as Group CEO until April 2032.
- Ambitious performance targets apply for full vesting of options.
- Options cover 10 million ordinary shares at €26.70 strike price.
- Targets include €4.0 billion full year profit after tax.
- An amended remuneration policy goes to the 2026 AGM.
Ryanair has agreed a six-year contract extension for Group CEO Michael O’Leary that runs until April 2032. The Board confirmed the terms on 19 June following months of discussion with O’Leary and engagement with the group’s largest shareholders. The contract provides a modest annual salary, a capped annual bonus and a one-off purchase option over 10 million ordinary shares.
The share options carry a strike price of €26.70 and become exercisable only if O’Leary stays until April 2032 and performance targets are met. These targets include full year profit after tax that exceeds €4.0 billion for full vesting or share price levels of €42 or $102 for 28 consecutive days. The amended remuneration policy goes to an advisory vote at the 2026 AGM.
The Board confirmed the arrangement after discussions with O’Leary and engagement with major shareholders. The contract includes a modest annual salary, a capped annual bonus and a one-off purchase option over 10 million ordinary shares.
The options become exercisable at a strike price of €26.70 if O’Leary remains until April 2032 and specific targets are met. Full vesting requires full year profit after tax to exceed €4.0 billion or share price targets of €42 or $102 for 28 consecutive days. The Board tabled an amended remuneration policy for the 2026 AGM.
Stan McCarthy shared “I am pleased to report that this process, which included extensive engagement with Ryanair’s largest shareholders, has successfully concluded with Michael agreeing to extend his leadership of the Ryanair Group for the next six years to April 2032, for the benefit of all shareholders.”
