EasyJet shareholders reject Stelios' campaign and back payouts for airline's directors
Sir Stelios Haji-Ioannou faced a humiliating defeat at the hands of easyJet shareholders yesterday, when they overwhelmingly backed a multi-million pound executives' bonus package which he had vociferously opposed.
More than 97 per cent of easyJet investors, apart from the 38 per cent stake owned by Sir Stelios and his family, voted to pass the airline's remuneration deal, which means 10 executives could get shares worth about £8m over the next three years.
Sir Stelios also failed to encourage enough investors to reject the re-election of four directors including chairman Sir Mike Rake. He was returned with 99.6 per cent of non-Sir Stelios votes. The chief executive, Carolyn McCall, was re-elected with 99.8 per cent of those votes.
Sir Mike used easyJet's annual meeting to threaten legal action against the airline's founder.
Sir Mike went on to claim Sir Stelios had run a campaign of "inappropriate and defamatory" attacks on the airline's executives. The entrepreneur has spent the past few weeks condemning the airline for the way it calculates bonuses for its bosses.
Despite his defeat in the vote, Sir Stelios claimed the board had made significant concessions due to his campaign, namely to agree to a rethink on the way performance is measured for bonuses.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Comic Con 2014 attendees
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...