EasyJet founder Stelios Haji-Iaonnou has failed in his attempt to oust the airline’s management team.
Haji-Iaonnou has been seeking the removal from EasyJet’s board of chairman John Barton, chief executive Johan Lundgren, chief financial officer Andrew Findlay and independent non-executive director Andreas Bierwirth.
EasyJet’s shareholders voted on the proposals at the airline’s annual general meeting on 22 May. The carrier says in a statement to the London Stock Exchange that all four resolutions were defeated. Over 99% of votes cast by independent shareholders were in support of the board, says the airline.
“On behalf of the board I would like to thank shareholders for their support,” states EasyJet chairman John Barton. “The airline industry is facing unprecedented challenges and the board’s immediate priority has been to take the necessary steps to successfully guide EasyJet through this period of uncertainty.”
He adds: “We are relentlessly focused on cash conservation and ensuring that EasyJet emerges from the Covid-19 crisis in a strong competitive position. The board seeks good relationships with all of the company’s shareholders and hopes to be able to re-engage constructively with Sir Stelios.”
Haji-Iaonnou wants EasyJet to cancel an order for 107 Airbus aircraft. In addition to calling for the removal of four directors, he has stated that he would not inject any fresh capital into the carrier while the Airbus order remained in place.