Simon English: Sorry Stelios – this time you were the loser
Friday 24 February 2012
Outlook "Change is in the air! I think this a great victory for shareholder activism."
That's Sir Stelios of easyJet yesterday on his battle with the budget airline he founded.
The thing is, he didn't really win. Most of the things to which he was opposed – notably the rewards to directors – are going ahead anyway because other shareholders didn't object.
Stelios is one of those likeable, risk-taking entrepreneurs of whom we need more. It'd be nice to always take his side, sadly his rhetoric tends to be somewhat scatter-gun. Better to make two clear points and one pointed joke, than ask 20 convoluted questions and chuck about exclamation marks.
An easy win for the queasyJet board.
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