Ryanair, Europe’s only Ultra Low Cost Carrier (ULCC), today (1 July 2013) announced that Michael Cawley, its Deputy CEO and Chief Commercial Officer, has decided to step down from his full-time Executive role in 10 months’ time at the end of March 2014, as he wishes to pursue other business interests including a number of Non-Executive Board positions.

Michael, who is responsible for the airline’s commercial strategy, its successful “low fares – high load factor” operations, as well as overseeing the development of its new route and airport relationships, will use the next 10 months to assist a smooth handover to his successor, who will be appointed over the coming months.

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 March 2014, and Ryanair is pleased to confirm that Michael has accepted this invitation. It is expected that Michael will join the Board of Ryanair Plc in a Non Executive capacity on 1 May 2014 next.

Ryanair’s Chief Executive Michael O’Leary said:

“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 are also delighted that he has accepted David Bonderman’s invitation to join the Board as a Non-Executive Director from mid 2014 onwards. 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."