Current Ryanair CEO Michael O'Leary will become group CEO of
Ryanair Holdings, the new group structure Ryanair will move into over the next
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."