Ryanair deputy CEO to quit airline

The deputy CEO of Ryanair, Michael Cawley, will step down from his position to pursue other business interests next March.

Mr Cawley, a chartered accountant by training, was one of three Ryanair executives who turned the carrier into Europe’s largest low- cost airline.

He helped to implement the airline’s successful low-fares high-load factor strategy.

He is understood to be interested in pursuing non- executive board positions in a number of companies including Airport Marketing Services Ltd, Mazine Ltd and GMS Professional Imaging Ltd.

The chairman of Ryanair, David Bonderman has invited Michael Cawley to join the board as a non-executive director after he steps down as a full-time executive in Mar 2014.

Chief executive of Ryanair Michael O’Leary paid tribute to Mr Cawley who he has worked with for the last 17 years.

“I am grateful to Michael for his enormous contribution to the successful growth and development of Ryanair over the past 17 years. I am pleased that he has given us such a long notice period so that he can assist his successor over a substantive handover period.

“We wish Michael every success for the future, and are pleased that we will continue to have access to his experience as a non-executive board member once he steps down from his full-time executive role in March next year,” he said.