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EasyJet founder calls for removal of non-executive director

Published 04/02/2020, 05:14 AM
Updated 04/02/2020, 05:15 AM
© Reuters. The spread of the coronavirus disease (COVID-19) in Luton

LONDON (Reuters) - Stelios Haji-Ioannou, the founder of easyJet (L:EZJ), has called for a board meeting to remove independent non-executive director Andreas Bierwirth.

The British budget airline said it had received the request and was considering its response. "Shareholders are advised to take no action at this time," it said.

EasyJet has been under pressure from its founder who asked in a letter on Sunday for it to cancel or renegotiate a 4.5 billion pound ($5.6 billion) order for 107 Airbus planes because the extra aircraft would destroy shareholder value.

Haji-Ioannou, who along with his family owns about a third of easyJet's shares, has been a long-time critic of the airline's plans, saying it was putting expansion before profit growth.

© Reuters. The spread of the coronavirus disease (COVID-19) in Luton

Latest comments

He has a point, why would you buy more airplanes these days?  Surely any airline's first priority is to conserve cash and hope to ride out the shutdown and the downturn afterward....
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