Ryanair board member steps down to avoid conflicts of interest

30th Aug 2024 08:38

(Sharecast News) - Ryanair has announced on that one of its non-executive directors has resigned after just six months on the board due to a potential conflict of interest in the coming months.

Roberta Neri is currently an operating partner at Spanish investment fund Asterion Industrial Partners, which recently announced plans to invest in a number of large Italian airports starting in October.

Ryanair said it is one of the main customer airlines operating to and from many of these airports, and so "to avoid any appearance of a conflict of interest" Neri has decided to step down at the start of September.

Neri, an Italian national and former head of Italian air navigation services provider ENAV, only joined the airline's board in February.

"Ms Neri has advised the board that she does not feel it would be appropriate to continue as a NED of Ryanair while at the same time holding her operating partner role with an investment fund which owns a significant stake in a number of these Italian airports," the company said in a statement.

Commenting on the issue, Ryanair chair Stan McCarthy highlighted that there was no conflict of interest when Neri's appointment was made. "We agree with Roberta's view on the importance of avoiding any appearance of conflict of interest and in these circumstances, we accept, with regret, Roberta's decision to step down," he said.