Frustrated Ryanair investors target chairman after year of strikes

A significant minority of Ryanair shareholders voted against the re-election of the airline’s long-serving chairman on Thursday but they overwhelmingly rejected calls by trade unions to oppose CE Michael O’Leary. The votes at the company’s annual meeting were the first chance for investors to give their verdict on a series of strikes and a year of management mis-steps that have seen the share price fall 17%. After a number of shareholders in the lead up to the vote publicly called for Chairman David Bonderman, 75, to step down, he was re-elected with 70.5% of votes, a significant fall from the 89% he received last year. Bonderman has chaired the company since 1996. But they reaffirmed their support for O’Leary, who has pursued a tough line with trade unions, with 98.5% re-electing him to the board, down from 99% last year. O’Leary, 57, said he would now negotiate a new contract to take him beyond 2019, but was reluctant to get tied into a five-year contract at his age. “The overwhelming majority of our shareholders are supportive [of chairman David Bonderman] ... and we should be very appreciative,” O’Leary told the meeting.<br/>