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This CEO's bonus to be ₹905 crore if he meets one condition
Michael O’Leary, 62, will earn share options worth 100 million euros (over ₹905 crore).
Michael O’Leary, the chief executive officer of Ryanair Holdings Plc, is likely to get a bonus of 100 million euros if he meets a market-linked condition. According to a report, the low-cost airline's share prices just need to keep rising to meet a 2019 condition.
O’Leary, 62, will earn share options worth 100 million euros (over ₹905 crore) if the Irish company's shares remain at the price of 21 euros for 28 days. The payout would come in the form of options to purchase 10 million shares at €11.12 each, Bloomberg reported.
This dream could become a reality. According to reports, the shares gained 50 percent this year. On Friday, they were trading at €18.84.
According to the news agency's analysis, the shares will rise further at an average price of 24.10 euros over the next 12 months, making O'Leary eligible for the whopping payout.
The incentive plan was extended till 2028. Last year, the shares were below 13 euros.
Another way of earning the incentive is if the carrier reports a profit of over €2.2 billion after tax.
Ryanair said in November that full-year profit will be in a range of €1.85 billion to €2.05 billion.
Who is Michael O'Leary?
He is based in Dublin, Ireland. He has been the CEO of the low-cost airlines since 1994.
He started his career as an accountant at KPMG after studying at Trinity College. He later became the financial advisor of Tony Ryan, the founder of the airline. In 1988, he was hired as the deputy chief executive.
In 2018, his net worth was over 1 billion dollars.
He owns several racehorses.
