Sir Stelios fails to oust easyJet chairman and CEO
Published on Friday, May 22, 2020
An attempt by easyJet founder Sir Stelios Haji-Ioannou to oust the airline’s top management has failed.
Sir Stelios had fallen out with the directors over their refusal to cancel a £4.5 billion order for 107 new Airbus aircraft, which he argues puts the airline’s future at risk.
But at a General Meeting today (Friday), more than 99% of votes cast by independent shareholders were against Sir Stelios’ resolutions to remove chairman John Barton, CEO Johan Lundgren, CFO Andrew Findlay and independent non-executive director Andreas Bierwirth.
Chairman John Barton said: “On behalf of the Board I would like to thank shareholders for their support. The airline industry is facing unprecedented challenges and the Board’s immediate priority has been to take the necessary steps to successfully guide easyJet through this period of uncertainty.
“We are relentlessly focused on cash conservation and ensuring that easyJet emerges from the Covid-19 crisis in a strong competitive position. The Board seeks good relationships with all of the Company’s shareholders and hopes to be able to re-engage constructively with Sir Stelios.”