Ryanair CEO's new share option scheme targets doubling profit in 5 years

Ryanair's CE Michael O'Leary could earn almost E100m if he doubles either the profitability or share price of the carrier within five years, under a new share option scheme announced on Friday. O'Leary said Monday he would stay for another five years at Europe's largest low-cost airline. Under the new options scheme he will be granted the option of buying 10m shares at the current share price of E11.12 if he either increases annual profit to E2b from a forecast of 1-1.1b in the current financial year, or if the share price rises to E21, the airline said. "The terms of the options will require him to double Ryanair's profitability to E2b per annum and/or increase the share price to 21 euros per share over the next five years to qualify for all of these options," Ryanair said. If the share price hits E21, O'Leary would earn a profit of E9.88 on each of the 10m share options. The airline said it has also offered each of its 11 non-executive directors options on over 50,000 shares each on the same terms.<br/>