Sir Stelios set to vote against easyJet directors
Saturday 18 February 2012
Sir Stelios Haji-Ioannou set the scene for a stormy annual general meeting of easyJet next Thursday as the company's founder saidhe would vote against there-election of a string ofdirectors and its pay report.
The entrepreneur, whose family still controls 38 per cent of the budget airline, is unhappy at levels of executive pay at easyJet as well as plans to buy new aircraft from Airbus as growth has slowed.
Sir Stelios, right, will vote against the re-election of easyJet's chairman, Sir Mike Rake, as well as the non-executives Adele Anderson, Rigas Doganis and Keith Hamill. He is also withholding his vote on the re-election of CarolynMcCall, the chief executive who used to run Guardian Media Group, and her finance director, Chris Kennedy.
The spat has already prompted a trio of institutional shareholders to throw their weight behind the board, which is led by Sir Mike, the former KPMG grandee who also chairs BT.
Standard Life, M&G Investments and Sanderson Asset Management, who collectively own almost 18 per cent of the business, declared last week that they backed the company's pay policy. At issue is an incentive scheme that could deliver shares worth £8m to executives over a three-year period.
EasyGroup, Sir Stelios's holding company, said it wanted to "increase transparency of directors' transactions using company money" and "increase scrutiny and hold people accountable for their actions".
Liam Neeson's Downton dreams
- 1 Mario Balotelli: Staff at arson-hit Manchester Dogs' Home convinced Liverpool striker is behind five-figure donation
- 2 Scottish independence live: Scotland gives a clear 'No' in historic referendum - as it happened
- 3 iOS 8 is full of shiny new features - but it's terrible news for app developers
- 4 Friends 20th anniversary: Six things we wouldn't have without influential comedy series
- 5 Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
Scottish independence referendum results: David Cameron pledges plans for 'English votes for English laws' by January
Scottish independence live: Scotland gives a clear 'No' in historic referendum - as it happened
Scottish referendum results: David Cameron set to unveil major devolution of powers to England
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Portuguese academic says British are 'filthy, violent and drunk'
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...