Ryanair 2016 Annual Report Download - page 113

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Neil Sorahan (Chief Financial Officer). Neil was appointed Chief Financial Officer in October 2014, having previously
served as Ryanair’s Finance Director since June 2006. Prior to that he was Group Treasurer from January 2003. Before
joining Ryanair, Neil held various finance and treasury roles at CRH plc., the international building materials group.
Edward Wilson (Chief People Officer). Eddie was appointed Chief People Officer in December 2002, prior to which he
served as Head of Personnel since joining Ryanair in December 1997. Prior to joining Ryanair, he served as Human
Resources Manager for Gateway 2000 and held a number of other human resources-related positions in the Irish financial
services sector.
COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS
Compensation
The aggregate amount of compensation paid by Ryanair Holdings and its subsidiaries to its non-executive
directors and eight executive officers named above in the 2016 fiscal year was €10.3 million. For details of Mr. O’Leary’s
compensation in such fiscal year, see “—Employment and Bonus Agreement with Mr. O’Leary” below
Each of Ryanair Holdings’ eleven non-executive directors is entitled to receive €35,000 plus expenses per annum,
as remuneration for their services to Ryanair Holdings. The Chairman of the Board receives a fee of €100,000 per annum.
Prior to the 2014 fiscal year, Mr. Bonderman had waived his entitlement to receive remuneration. The additional
remuneration paid to all Committee members for service on that committee is €15,000 per annum.
For further details of stock options that have been granted to the Company’s employees, including the executive
officers, see “Item 10. Additional Information—Options to Purchase Securities from Registrant or Subsidiaries,” as well
as Note 15 to the consolidated financial statements included herein. The Chairman of the Safety Committee is entitled to
receive €40,000 per annum in connection with the additional duties in relation to that committee.
Employment and Bonus Agreement with Mr. O’Leary
In October 2014, Michael O’Leary (Chief Executive Officer) signed a five-year contract which commits him to
the Company until September 2019. This contract replaces a rolling 12-month arrangement under which Mr. O’Leary has
worked as Chief Executive of the airline since 1994. Pursuant to the agreement, Mr. O’Leary serves as Chief Executive
Officer at a current annual gross salary of approximately €1 million, subject to any increases that may be agreed between
the Company and Mr. O’Leary. Mr. O’Leary is also eligible for annual bonuses as determined by the Board of Directors
of the Company, which are subject to the achievement of both budget and personal performance criteria; the amount of
such bonuses paid to Mr. O’Leary in the 2016 fiscal year totaled approximately €0.9 million. Mr. O’Leary is subject to a
covenant not to compete with the Company within the EU for a period of two years after the termination of his employment
with the Company. Mr. O’Leary’s employment agreement does not contain provisions providing for compensation on its
termination.
STAFF AND LABOR RELATIONS
The following table sets forth the details of Ryanair’s team at each of March 31, 2016, 2015 and 2014:
Number of Staff at March 31,
Classification
2016
2015
2014
Management
112
110
105
Administrative
485
334
290
Maintenance
148
143
139
Ground Operations
356
286
220
Pilots
3,424
2,804
2,665
Flight Attendants
6,933
5,716
5,573
Total
11,458
9,393
8,992