Ryanair poised for clash with investors over executive pay

Ryanair is poised for a clash with investors this month after the airline was criticised for paying out a E450,000 bonus to CE Michael O’Leary despite furloughing staff and taking government pandemic support. Institutional Shareholder Services, an influential adviser, recommended investors vote against the company’s non-binding pay report at Ryanair’s annual meeting on September 17.  The world’s largest proxy adviser said it was “difficult to justify” the bonus payout, which was about 92% of the maximum O’Leary could have received, given the “upheaval” faced by the airline industry.  “This payment raises concerns, given the current uncertainties facing the company and the airline industry, and in view of the broader stakeholder experience,” it said.  Ryanair declined to comment. ISS’s stance is the latest sign that executive bonuses are becoming a flashpoint for investors concerned about how companies are reacting to the pandemic. Asset managers such as M&G have warned that some corporate bosses are not sharing the pain and are enjoying large payouts, despite businesses furloughing staff and cutting dividends.<br/>