September 20, 2018 / 12:31 PM / a year ago

Shareholder ASI wants 'clear progress' on succession of Ryanair chairman

EDINBURGH (Reuters) - Aberdeen Standard Investments (ASI), a shareholder in Ryanair, said on Thursday it expected “clear progress” on the succession of Ryanair Chairman David Bonderman and Senior Independent Director Kyran Mclaughlin by this time next year.

“The length of time both have been on the board suggests a lack of focus on board succession planning,” ASI said. “Excessive tenure also calls into question an individual’s independence and objectivity and our engagement on governance matters suggests that the board is not listening carefully enough to shareholders’ views.”

ASI, one of Britain’s biggest fund managers, currently has a stake of around 0.9 pct in Ryanair.

Reporting by Elisabeth O'Leary; editing by Stephen Addison

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