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Ryanair AGM narrowly approves bonus plan for CEO O'Leary

Ryanair AGM narrowly approves bonus plan for CEO O'Leary
FILE PHOTO: Horse Racing - Cheltenham Festival - Cheltenham Racecourse, Cheltenham, Britain - March 15, 2019 Ryanair Chief Executive and racehorse owner Michael O'Leary at Cheltenham Festival Action Images via Reuters/Matthew Childs/File Photo -
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DUBLIN (Reuters) – Ryanair <RYA.I> shareholders narrowly approved a bonus scheme for Chief Executive Michael O’Leary on Thursday that could earn him around 100 million euros (£88.56 million) over five years.

The bonus scheme, which requires him to either double the profitability or share price of the carrier within five years, was approved by 50.5% of votes.

O’Leary in February said he would stay for another five years at Europe’s largest low-cost airline, whose share price has roughly halved over the past two years amid a series of disputes with unions and delays to the delivery of the grounded Boeing 737 MAX.

(Reporting by Conor Humphries; Editing by Himani Sarkar)

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