Government to vote against Aer Lingus chief's pay package

fr336

http://www.independent.ie/business/irish/government-to-vote-against-aer-lingus-chiefs-pay-package-30237264.html

This guy can potentially win the lottery every year with his salary for running a relatively small, not setting the world alight airline! Nice work if you can get it. Meanwhile I believe Michael O'Leary of Ryanair is on a slightly smaller wage, for delivering probably one of the top 3 prominent airlines in Europe. Most CEOs seem to be a small club of backrubbers, who are somehow entitled to obscene amounts of money from companies no matter what they are doing with them...this isn't really a rant against EI because I know that is worst came to worst with EI it'd be the staff on crap wages and doing all the hard work who would suffer.

carpejugulum

'€400,000 bonus for defending the latest Ryanair bid' ... How is that his achievement?

fr336

carpejugulum wrote: »

'€400,000 bonus for defending the latest Ryanair bid' ... How is that his achievement?

It's obscene. Even with the best will in the world one person couldn't take the responsibility for such an event.

The only kind of CEOs I'd have any time for would be the likes of O'Leary who you could argue with all day but in terms of setting up a company, working flat out to make it what it is today and keeping on top of that is a spectacle. Ironically Ryanair, a shareholder in Lingus, approved the CEO's package today.

Jack1985

The only kind of CEOs I'd have any time for would be the likes of O'Leary who you could argue with all day but in terms of setting up a company, working flat out to make it what it is today and keeping on top of that is a spectacle. Ironically Ryanair, a shareholder in Lingus, approved the CEO's package today.

You do know MOL's paypack mirrors Mueller's? And the reason FR approved the pay level was because they are happy with his performance? and yes I'd consider it an achievement to defend the airline against FR. Ryanair are the most predatory form of a company when it comes to there umpteen attempts to get there hands on them, they never will and surely but slowly FR's own shareholders are realising the waste MOL has created on trying to get Aer Lingus. While I do not agree with the latest bonus level for Mueller I completely credit him with turning the company around in its financial state, having nearly faced the door in 2009 - Aer Lingus is totally different today. There are issues, pensions being the biggest problem, Mueller has again and again said in every FY that it needs to be sorted and to be fair he's dealing with a legacy issue of nearly 30 years in that regard.

I'd have plenty of time to listen to Mueller who has by the way worked flat-out at Aer Lingus also.

ProfessorPlum

fr336 wrote: »

http://www.independent.ie/business/irish/government-to-vote-against-aer-lingus-chiefs-pay-package-30237264.html

...Meanwhile I believe Michael O'Leary of Ryanair is on a slightly smaller wage.....

To be fair, MO'L hasn't done badly out of FR. At that level in business, it's not about the salary. It's all the other good stuff that goes with it that makes you rich. Look at MOL's shareholding in FR for example.

fr336

ProfessorPlum wrote: »

To be fair, MO'L hasn't done badly out of FR. At that level in business, it's not about the salary. It's all the other good stuff that goes with it that makes you rich. Look at MOL's shareholding in FR for example.

:D No, I don't think a basic 1mil a year salary is at all bad, no :pac: Along with the frills as you say.

markpb

The government didn't have enough support for this, the vote was passed by (something like) 50.4%.

fr336

markpb wrote: »

The government didn't have enough support for this, the vote was passed by (something like) 50.4%.

So a tiny tiny margin more than half.

arubex

Jack1985 wrote: »

You do know MOL's paypack mirrors Mueller's? And the reason FR approved the pay level was because they are happy with his performance?

'Ryanair' don't approve the remuneration; the Board of Ryanair do. Who are all themselves officers of the company or Directors of other organizations, so naturally they're not going to start downward pressure on executive salaries because that will feed back and affect them.


I believe 'Turkeys voting about Chirstmas' is the applicable metaphor.

Jack1985

arubex wrote: »

'Ryanair' don't approve the remuneration; the Board of Ryanair do. Who are all themselves officers of the company or Directors of other organizations, so naturally they're not going to start downward pressure on executive salaries because that will feed back and affect them.


I believe 'Turkeys voting about Chirstmas' is the applicable metaphor.

Well who do you think I'm referring to???