Michael O'Leary at the World Travel & Tourism Council Global Summit in 2015. Credit: World Travel and Tourism Council/Flickr.
CEO of Ryanair, Michael O’Leary, has stepped down from his role and will be succeeded by Eddie Wilson, Ryanair’s chief people officer, starting on Monday.
After restructuring earlier this year, the company registered itself as Ryanair Holdings PLC, a group holding company made up of several airline carriers, including Ryanair DAC (Designated Activity Company), and other airline carriers such as Buzz, Lauda Air, and Malta Air.
As part of the restructuring process, O’Leary signed a new contract, making him executive officer of the group holding company until at least July 2024, while a new CEO of Ryanair DAC, the airline carrier, would be appointed sometime in 2019, reported The Financial Times.
Wilson, who has worked with Ryanair for 22 years and who was in charge of negotiations with pilot and crew unions, will take over the position of CEO of Ryanair DAC, while O’Leary will run Ryanair Holdings PLC.
Similarly to the CEO’s of the other airline carriers in the group holding company, Wilson will report to O’Leary, reported The Irish Times.
Ryanair confirmed the information on Friday.
This announcement comes as Ryanair faces criticism after announcing plans to cut 900 jobs and close four bases in Spain. Despite plans made by Spanish employees to strike, Belgian employees of Ryanair are not planning on strike action, it was announced on Thursday.