… goes with the times. Ryanair Chairman David Bonderman should take this wisdom to heart. Because the 75-year-old billionaire increasingly gives the impression that he wants old times back. Last year, for example, he had to leave the board of the US mobility service provider Uber after a derogatory remark about women. In response to a plea by his board colleague Arianna Huffington (Huffington Post) for more women in management positions, Bonderman said that “much more talk” would then threaten (for which he apologised afterwards).
Trade union enemy and O’Leary friend?
In the run-up to Ryanair’s Annual General Meeting this week, the private equity entrepreneur was once again criticised: the International Transport Workers Federation, representing Ryanair employees, has demanded Bonderman’s removal in a letter to shareholders. He is part of a”strongly anti-union corporate culture” and a”close friend” of CEO Michael O’Leary. However, Ryanair needs a Chairman who challenges the management and feels committed to all stakeholders. We fear too: The habitus with which the Ryanair managers act towards employees is likely to harm the company in the long term. We therefore recommend that O’Leary and Bonderman deal with German co-determination and its positive effects (and are happy to answer any questions they may have).