From the article...
Ryanair’s employment issues highlight long-standing concerns about governance and in particular Mr Bonderman’s oversight role as chair of the board and his ability to influence the CEO, Michael O’Leary.”
Finally we see the pendulum swing the other way.
Questions about the company’s business model and governance now pose a threat to shareholder value.
The company's business model is predicated on
unlimited supply not only of pilots but all labour unit cost (AKA employees)
TPG aren't really known for their appreciation of humanity, like most private equity, the strategy is strip out cost, lever the balance sheet, break things up and sell them off...Rather like Mr O'Leary and the architects of the adversarial industrial model, a Chair, CEO and senior management welded to an adversarial business model ought rightly be sent to the woodshed. The whole business model needs to change, it has had its day.
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