Stelios announced new easyJet director target
06.09.11
easyJet founder and major shareholder Sir Stelios Haji-Ioannou has called for an extraordinary meeting of the budget airline's shareholders to vote on a proposal for the removal of Rigas Doganis from the board. He is unhappy that Doganis voted in favour of the purchase of 35 new aircraft in January, before the company issued a profit warning later in the month.
Sir Stelios said in a statement: ‘That profit warning has destroyed about a quarter of the company's market capitalisation, or some £600 million. Had the profit warning been announced before the aircraft order, we believe that the drop in the market capitalisation would have necessitated a shareholder vote for the capital expenditure in circumstances where he would have known that the directors would have failed to obtain such approval.’
Doganis has been on the easyJet board since 2005 and is an aviation consultant and strategy adviser to airlines, airports, banks and governments. easyJet said in a statement: 'This is a further unnecessary and costly distraction that is damaging to the company's reputation and undermines investor confidence. The board believes this resolution is not about removing Rigas Doganis, but a clear attempt by a minority shareholder to inappropriately determine the composition of the board and override normal corporate governance protocols.’
To book a luton airport hotels or luton airport parking at the lowest price, click on these links to two great luton airport car parking and luton airport hotel price comparison pages.
