Shareholdings in airlines run by Ryanair, AIG and Lufthansa predate appointment to CEO and are included in SIPO returns - DAA says
DAA chief executive Kenny Jacobs told an Oireachtas committee hearing that he had shares in 12 airlines operating out of Dublin Airport. Photograph: Tommy Dickson
He was responding to questions from Duncan Smith, the Labour Party’s spokesman on transport, about his former role as chief marketing officer of Ryanair, which as a company rewards its executives with share-based remuneration.The Irish Times Business Person of the Month: Laura Dillon, WaterlandHe said he didn’t believe this constituted a conflict of interest “given it’s 12 different airlines who are all customers of Dublin Airport, I don’t think it’s a conflict”.
It has now emerged that Mr Jacobs owns shares in just three different airline companies, Ryanair, IAG and Lufthansa, each of whom has a number of subsidiary airlines, which Mr Jacobs had aggregated in his counting of the number of airlines operating out of Dublin. When contacted by The Irish Times, a spokesman for the DAA said: “Mr Jacobs holds legacy shareholdings in three airline groups that predate his joining DAA. These holdings, which remain unchanged, were fully disclosed by Mr Jacobs in all returns made to SIPO since taking up the CEO role.”
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