Easyjet shareholders back board in feud

They have backed the board over founder Sir Stelios

Shareholders in easyJet have backed the company’s board in a bitter dispute with founder Sir Stelios Haji-Ioannou over a multibillion-pound aeroplane deal.

EasyJet said that 99% of votes cast by independent shareholders were against Sir Stelios’s demands to remove the chairman, chief executive and two other directors from the easyJet board.

However, around 42% of votes cast were nevertheless in favour of firing the four. These were mostly Sir Stelios’s votes.

Sir Stelios blasted the results as “voting fraud,” claiming that 15% of the company’s shares are held by “strawmen” for Airbus. Under stock exchange rules this would not have allowed the shareholders to vote.

Published: 23/05/2020 by Radio NewsHub