Ryanair's Neil Sorahan to replace Howard Millar as CFO
Millar's departure is the second high-profile one from the airline in recent months.
Published 30/06/2014 | 10:23
Ryanair's chief financial officer and deputy chief executive Howard Millar will step down from the roles in December.
He will be replaced by Ryanair executive Neil Sorahan, who is currently a financial director at the airline.
Millar's departure is the second high profile one from the airline in recent months.
Michael Cawley, who was chief operations officer and also deputy chief executive left the carrier earlier this year having joined it in 1997.
The airline announced this morning that Mr Millar has decided to leave after 23 years with the company to pursue other opportunities. His replacement will be announced later this morning.
He will remain as a non-executive director with Ryanair. Mr Cawley also remained as a non-executive director with the carrier.
“I sincerely thank Howard for his enormous contribution to Ryanair’s successful growth over the last 23 years,” said Ryanair CEO Michael O’Leary.
“He has been a pioneer in the development of low fare air travel in Europe as well as in aircraft financing, commodity risk and fuel management, IT systems and treasury fields of the aviation industry,” he added.
Mr O’Leary said Mr Millar will be “greatly missed” but that the airline has developed an “excellent senior management team” over the years.
"It has been an absolute honour to have played a central role in the building of Ryanair into Europe's largest airline over the last 23 years and in the process to have enabled hundreds of millions of customers to enjoy the benefits of low fare air travel,” said Mr Millar. “I have thoroughly enjoyed working with Michael and the hugely talented team at Ryanair over that period to create a unique and successful business model.”