Ryanair 2010 Annual Report Download - page 13

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Staff
At March 31, 2010, the Company’s personnel numbered 7,168 people, including 1,147 pilots and 2,255
cabin crew employed on a contract basis. This compares to 6,616 staff at March 31, 2009 and 5,920 staff at
March 31, 2008. The increase in staff levels consisted mainly of pilots and cabin crew and arose due to the
expansion of the aircraft fleet and continued growth of the Company.
Substantial interests in share capital
Details of substantial interests in the share capital of the Company which represent more than 3% of the
issued share capital are set forth on page 101 of the Annual Report. At March 31, 2010 the free float in shares
was 95%.
Directors and company secretary
The names of the directors and company secretary are listed on pages 98 and 99 of the Annual Report.
Details of the appointment and re-election of directors are set forth on page 14 of the Annual Report. On May
28, 2010, Mr. Charles McCreevy and Mr. Declan McKeon were appointed as non-executive directors.
Interests of directors and company secretary
The directors and company secretary who held office at March 31, 2010 had no interests other than those
outlined in note 19 on pages 176 to 177 of the consolidated financial statements in the shares of the Company
or other group companies.
Directors’ and senior executives’ remuneration
The Company’s policy on senior executive remuneration is to reward its executives competitively,
having regard to the comparative marketplace in Ireland and the United Kingdom, in order to ensure that they
are properly motivated to perform in the best interests of the shareholders. Details of total remuneration paid
to senior key management (defined as the executive team reporting to the Board of Directors) is set out in
Note 26 on page 187 of the consolidated financial statements.
Executive director’s service contract
Ryanair entered into an employment agreement with the only executive director of the Board, Mr.
Michael O’Leary on July 1, 2002 for a one year period to June 30, 2003. Thereafter, the agreement continues
for successive annual periods but may be terminated with 12 months notice by either party. Mr. O’Leary’s
employment agreement does not contain provisions providing for compensation on its termination.
Dividend policy
Details of the Company’s dividend policy are disclosed on page 111 of the annual report.
Accountability and audit
The directors have set out their responsibility for the preparation of the financial statements on page 25 to
26. They have also considered the going concern position of the Company and their conclusion is set out on
page 24. The Board has established an Audit Committee whose principal tasks are to consider financial
reporting and internal control issues. The Audit Committee, which consists exclusively of independent non-
executive directors, meets at least quarterly to review the financial statements of the Company, to consider
internal control procedures and to liaise with internal and external auditors. In the year ended March 31, 2010
the Audit Committee met on 6 occasions. On a semi-annual basis the Audit Committee receives an extensive
report from the internal auditor detailing the reviews performed in the year, and a risk assessment of the
Company. This report is used by the Audit Committee and the Board, as a basis for determining the
effectiveness of internal control. The Audit Committee regularly considers the performance of internal audit
and how best financial reporting and internal control principles should be applied.