RYANAIR APPOINTS NEIL SORAHAN AS CFO
Ryanair, Europe's largest passenger airline, today (30 June) announced the appointment of Neil Sorahan as Chief Financial Officer with effect from 1st October 2014. Neil, who is currently Finance Director will take over from current CFO Howard Millar when he steps down on 31st December 2014.
Neil, who has worked in Ryanair for almost 12 years, joined as Treasurer in 2003, having previously worked in CRH plc for 11 years as Deputy Treasurer. He was subsequently promoted to Finance Director in June 2006. In this position he has been operating as Howard Millar's Deputy for the last 8 years and has been a key leader in Ryanair's Finance Department, having actively managed the treasury function, financial reporting, participated in investor roadshows and was recently closely involved in Ryanair's successful debut €850m bond offering.
Speaking today, Ryanair's Michael O'Leary said:
"We are pleased to have a very strong in-house replacement for Howard in his deputy, Neil Sorahan. Neil has worked with Howard for the past 12 years and has been a key member of the Finance senior management team. He will work closely with Howard over the next six months to ensure a smooth transition as Howard departs to take up new career challenges.
All of us in Ryanair look forward to working with Neil as he becomes Chief Financial Officer. He has a hard act to follow, but as we enter into a 5 year period of renewed growth, with new aircraft deliveries starting in September and a rapidly improving customer experience, we all believe that Neil is the right person to fill the void left by Howard."
Ryanair's Howard Millar said:
"I have every confidence in Neil, having recruited and worked closely with him over the last 12 years. He has been a pivotal member of the Finance senior management team, with a broad range of experience in treasury, financial reporting, taxation, investor relations, and more recently in our successful first bond issue. I am particularly pleased that the time and effort we have invested in developing a very strong senior management team will ensure there is a smooth transition of the finance function to Neil over the next six months."
For further information
please contact:
Robin Kiely Joe Carmody
Ryanair Ltd Edelman Ireland
Tel: +353-1-9451212 Tel: +353-1-6789333
press@ryanair.com ryanair@edelman.com
Follow us on Twitter: @Ryanair
Neil Sorahan's Biography
Neil Sorahan was appointed Finance Director of Ryanair in June 2006, having previously served as its Group Treasurer from January 2003. Prior to joining Ryanair, he held various finance and treasury roles at CRH plc, the international building materials group (June 1992 to December 2002). Neil is a member of the Chartered Institute of Management Accountants (CIMA) and is also a member of the Institute of Chartered Secretaries and Administrators (ICSA). He is a former board member of the Irish Association of Corporate Treasurers (IACT).