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Wizz Air Holdings - Update on Resolution 2 - 2020 AGM vote

RNS Number : 6357M
Wizz Air Holdings PLC
22 January 2021
 

Update on Resolution 2 - 2020 Annual General Meeting vote

 

LSE: WIZZ

 

Geneva, 22 January 2021: At the Wizz Air Holdings Plc ("Wizz Air" or "the Company")  Annual General Meeting held on 28 July 2020 the resolution to approve the Directors' Remuneration Report was supported by 48% of shareholders.

 

Since this time, the Company's Board has welcomed new directors and a fully refreshed Remuneration Committee with two new members, Charlotte Andsager and Peter Agnefjäll, along with a new Remuneration Committee Chairman, Barry Eccleston. In his new role, the Remuneration Committee Chairman engaged with key Company shareholders to listen to their views.

 

The Company has received feedback from shareholders who voted against the 2020 Remuneration Report resolution that the main concerns at the time of voting related to discretion used to award the FY20 Short-term Incentive Plan payment to Senior Management and the total time horizon of the Company's Long-term Incentive Plan.

 

Whereas the Board remains satisfied that the Short-term Incentive Plan outcome for Senior Management was fair as outlined in our 2020 Remuneration Report, it acknowledges and respects the views expressed by shareholders in their opposition to the resolution. Key feedback, together with other governance initiatives the Company will be undertaking, will be incorporated in the Remuneration Policy that will be presented for approval at the next AGM in summer 2021. 

 

The Remuneration Committee is committed to recommending executive remuneration proposals that serve to support the business in retaining key talents and delivering strong returns to shareholders, while remaining conscious of the wider stakeholder experience and business performance.

 

The Remuneration Committee would like to thank all shareholders that took part in the engagement process and values the feedback and insight it has gained. A final update on this matter will be included in the Annual Report for year end 31 March 2021.

 

 

-Ends-

 

 

ABOUT WIZZ AIR 

Wizz Air, the fastest growing and greenest European low-cost airline, operates a fleet of 135 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40 million passengers in the financial year F20 ending 31 March 2020. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The Company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, Aviation 100 Award for leading airline of 2020, and 2020 Airline of the Year by ATW, among the most coveted honours an airline or individual can receive, recognising individuals and organisations that have distinguished themselves through outstanding performance, innovation, and superior service.

 

 

For more information:



Evelin Horvath, Wizz Air:

+41 22 555 9863

Andras Rado, Wizz Air:

+36 1 777 9412



Edward Bridges / Jonathan Neilan, FTI Consulting LLP:

+44 20 3727 1017

 

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Quick facts: Wizz Air Holdings

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Market: AIM
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