Ryanair confirms renewal of CEOs contract for further five years

Ryanair Holdings confirmed (24-Oct-2014) the extension of CEO Michael O'Leary's contract until Sep-2019, with the new contract replacing the previous rolling 12-month arrangement. Ryanair Holdings stated: "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." [more - original PR]