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LONDON - Wizz Air Holdings PLC (LSE: LON:WIZZ), a major European low-cost airline, has concluded consultations with shareholders following its 2024 Annual General Meeting (AGM). The company announced Monday that, after engaging with shareholders, it will implement the Directors’ Remuneration Policy and Amendments to the Wizz Air Omnibus Plan as approved at the AGM held on September 25, 2024, despite the resolutions receiving less than the typically expected percentage of votes.
At the AGM, shareholders passed all proposed resolutions, but two of them—the Directors’ Remuneration Policy and Amendments to the Omnibus Plan—saw reduced support with 65.58% and 67.77% of the votes, respectively. This prompted Wizz Air to conduct post-AGM consultations with its shareholders, as mandated by the UK Corporate Governance Code.
During these discussions, Wizz Air’s management team presented their case for the adjustments, emphasizing that the changes were designed to ensure effective incentives for the CEO and align management’s interests with those of the shareholders. Following this period of feedback and discussions, the company reported that it found sufficient support to proceed with the implementation of the policies.
The Board expressed gratitude to the shareholders for their participation and feedback, which provided valuable insights. Wizz Air reiterated its commitment to ongoing engagement with shareholders, particularly concerning remuneration matters.
Wizz Air, known for its fleet of 229 Airbus A320 and A321 aircraft, has been recognized for its safety, service, and sustainability efforts. The airline served 62.8 million passengers in 2024 and has received accolades for being one of the world’s top five safest airlines, as well as for its environmental sustainability initiatives.
This move comes as the airline continues to maintain its market position and focus on aligning corporate governance practices with shareholder interests. The information for this report is based on a press release statement from Wizz Air.
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