Ryanair Deputy CEO To Step Down In March 2014
01-Jul-2013 Ryanair, Europe's only Ultra Low Cost Carrier (ULCC), today (1 July 2013) announced that Michael Cawley, its Deputy CEO and Chief Commercial Officer, has decided to step down from his full-time Executive role in 10 months' time at the end of March 2014, as he wishes to pursue other business interests including a number of Non-Executive Board positions.
Michael, who is responsible for the airline's commercial strategy, its successful "low fares - high load factor" operations, as well as overseeing the development of its new route and airport relationships, will use the next 10 months to assist a smooth handover to his successor, who will be appointed over the coming months.
The Chairman of Ryanair, David Bonderman has invited Michael Cawley to join the Board as a Non Executive Director after he steps down as a full-time Executive in March 2014, and Ryanair is pleased to confirm that Michael has accepted this invitation. It is expected that Michael will join the Board of Ryanair Plc in a Non Executive capacity on 1 May 2014 next.
Ryanair's Chief Executive Michael O'Leary said:
"I am grateful to Michael for his enormous contribution to the successful growth and development of Ryanair over the past 17 years. I am pleased that he has given us such a long notice period so that he can assist his successor over a substantive handover period. We are also delighted that he has accepted David Bonderman's invitation to join the Board as a Non-Executive Director from mid 2014 onwards. We wish Michael every success for the future, and are pleased that we will continue to have access to his experience as a Non Executive Board member once he steps down from his full-time Executive role in March next year."