Ryanair extends group CEO O'Leary's contract until April 2032

Dhaka: Ryanair Holdings has extended the contract of its group CEO Michael O’Leary until April 2032, prolonging his leadership by nearly six years.

The airline confirmed the agreement on June 19, concluding months of discussions between the board and the company’s largest shareholders.

O’Leary has been leading Ryanair since 1994 and stepped into the role of group CEO in April 2019. His previous contract, which was renewed in December 2022, was originally set to expire in July 2028.

The new contract includes a modest annual salary and a capped bonus, paired with a one-off option to purchase 10 million ordinary shares. Ryanair set the strike price at EUR 26.70, equivalent to USD 65.00, matching the share price from February before a recent drop caused by the war in Iran.

To fully vest the options, O’Leary must remain until April 2032 and achieve strict financial goals. This requires an annual profit after tax exceeding EUR 4 billion, or the company’s shares trading above EUR 42, equivalent to USD 102, for 28 consecutive days before March 31, 2032.

These new thresholds are significantly higher than his 2019 incentive plan, which featured a strike price of EUR 11.12. That previous plan required a profit after tax of EUR 2.2 billion or a share price above EUR 21, a condition that Ryanair successfully met in May 2025.

Ryanair Chairman Stan McCarthy stated that O’Leary agreed to the extension for the benefit of all shareholders. An amended remuneration policy detailing the new contract terms will be presented for an advisory vote at the airline group's 2026 annual general meeting.