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Easyjet shareholders back board in feud

Written by on May 23, 2020

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