Commenting on the news that Ryanair’s chief executive officer, Michael O’Leary, could receive a windfall pay-out, Ashley Hamilton Claxton, head of responsible investment at Royal London Asset Management, says:
“This share option grant is wholly inappropriate. Asking shareholders to pay directors more than Eur100 million for achieving a marginal improvement over its share price high in August 2017 is ludicrous. Many of the reasons for the company’s recent poor performance, such as labour issues, strikes and logistical problems, have been within management’s control, so this eye-watering payout for rectifying these issues and achieving a share price recovery simply adds insult to injury.
“Further, we are strongly opposed to granting share options to non-executive directors, a practice which we think compromises their independence and ability to challenge management effectively for fear they may lose out on incentive pay.”
RLAM holds 366,258 shares circa. £3.7m / 0.03%
For further information please contact:
Kimberley Robinson, Corporate PR Manager
- Email: email@example.com
- Tel: 0203 272 5125
- Mob : 07919 171953
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £117 billion of assets and employs 89 investment professionals. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued February 2019 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
For press releases about RLAM please click here.