Current Ryanair CEO Michael O'Leary will become group CEO of
Ryanair Holdings, the new group structure Ryanair will move into over the next
12 months.
Michael O'Leary
O'Leary will oversee four airline subsidiaries: the mainline
Ryanair, Ryanair UK, Ryanair Sun in Poland and Austrian carrier Laudamotion.
O'Leary will step away from running the day-to-day operations of Ryanair; his
replacement will be hired later this year, according to the low-cost carrier.
The 57-year-old O'Leary has been Ryanair's CEO since 1994.
His current contract was to expire this year before inking a new five-year deal
to run Ryanair Holdings until at least July 2024. Ryanair said the holding
company will "focus upon efficient capital allocation, cost reductions,
aircraft acquisitions and small scale M&A opportunities."