EasyJet founder Stelios loses bid to oust 4 directors

EasyJet founder Stelios Haji-Ioannou has lost his attempt to oust four directors, including the airline’s chairman and CE, following an investor vote Friday. Sir Stelios, the low-cost airline’s biggest shareholder, was dealt the blow after investors voted against each of the four resolutions at a virtual extraordinary general meeting. About 58% of shareholders voted against each resolution, compared with about 42% in favour. The resolutions to remove the directors required the support of more than 50%. Following the defeat, John Barton, chairman of easyJet, thanked shareholders for their support and said the board hoped “to be able to re-engage constructively with Sir Stelios”. He said: “The board’s immediate priority has been to take the necessary steps to successfully guide easyJet through this period of uncertainty.” EasyJet said more than 99% of votes cast by independent shareholders, excluding Sir Stelios, were in support of the board. The budget carrier has been in the middle of a battle with Sir Stelios over the past two months over a multibillion-pound order for 107 Airbus aircraft. The airline held the general meeting in response to Sir Stelios’s resolution to remove four directors, including Barton and CE Johan Lundgren. Sir Stelios said he would “carry on the search” for the reasons behind what he called a “love affair” between easyJet and Airbus.<br/>