EasyJet shareholders urged to reject moves to oust chairman

EasyJet shareholders urged to reject moves to oust chairman

A US shareholder advisory firm has recommended that investors reject an attempt by the founder of easyJet to oust the chairman from the board of the airline.

Sir Stelios Haji-Ioannou, who is also the largest shareholder in the budget carrier, has called for Sir Michael Rake to go due to increasing commitments at Barclays, where he is deputy chairman.

EasyJet, which has urged shareholders to reject Stelios's move, said on Friday that Glass Lewis, a US proxy advisory body that makes shareholder voting recommendations, had also recommended voters reject the resolution.

Investors representing 26.5% of the company's shares have said they will reject the vote, easyJet said. Sir Stelios holds a 26.4% stake.

Sir Michael had been favourite to take over the chairmanship of Barclays, which is struggling to recover from the Libor interest rate rigging scandal, but ruled himself out of the job last week.

A meeting to vote on the proposal is due to take place on August 13, Reuters reported.

Comments

This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in News