Michael O’Leary has extended his contract as group chief executive of Ryanair until July 2028.
His contract was due to expire at the end of July 2024.
Ryanair said that the contract extension follows “months of discussions” with Mr O’Leary, himself, and “extensive engagement” with Ryanair’s larger shareholders.
Ryanair chairman Stan McCarthy said: “During this time, Michael will oversee the group’s growth to 225 million passengers per annum and, with board support and oversight, develop the group’s strategy to the end of the decade.”
Shareholders will vote to ratify Mr O’Leary’s contract extension at Ryanair’s 2023 annual general meeting.
Separately, Ryanair has announced that it has appointed Anne Nolan – the former chair of the Irish Aviation Authority (IAA) to its board as a non-executive director.
Ms Nolan is a former chief executive of the Irish Pharmaceutical Healthcare Association and has served on various boards including the Food Safety Authority of Ireland, the Irish Medicines Board, the Smurfit Graduate School of Business and the Executive Committee of the European Federation of Pharmaceutical Industries.