Stelios set for showdown talks with easyJet chairman
04.07.10
Sir Stelios Haji-Ioannou is set for showdown talks with easyJet next week as he seeks to alter the airline's strategy, the Wall Street Journal reports. He is also seeking to influence its new chief executive, Carolyn McCall, who starts work today.
He is to meet Michael Rake, the budget airline's chairman, on July 13 to discuss a range of concerns, including when the airline will start paying a dividend. Sir Stelios, who resigned from the board two months ago in a row over strategy, wants easyJet to drop its growth strategy and start paying dividends to shareholders. The newspaper reports that the questions he intends to put to Sir Michael include:
At what level of penetration of the European short-haul market does the board believe the airline will have achieved its growth potential?
Recent aircraft orders have reverted to Airbus. When will competition with rival plane maker Boeing be re-engaged?
How does the board expect a long-term investor to realise value from their investment? When should investors expect a regular dividend?
While these questions will be addressed to the chairman, Sir Stelios is also reported to be hoping to influence Ms McCall when she reviews the airline's operations as she settles in to her new role.
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