The billionaire founder of easyJet is threatening to seek the removal of most of its board members unless it cancels a £4.5bn aircraft order that he warned could threaten its future amid the coronavirus pandemic.Sky News has seen a letter sent on Sunday by Sir Stelios Haji-Ioannou to John Barton, the low-cost carrier’s chairman, which said he would call an extraordinary shareholder meeting every seven weeks to remove one of its non-executive directors.Along with other family members, Sir Stelios owns just under 34% of easyJet’s shares.The entrepreneur is enraged at what he argues is easyJet’s lack of transparency about the order for 107 Airbus planes, which he labelled as “simply shareholder value-destroying”.He informed Mr Barton that unless his concerns are met by midday on Wednesday, he would begin a rolling programme of calling EGMs every seven weeks to try to remove one of easyJet’s non-executive directors – beginning with Andreas Bierwith. Advertisement Prominent business figures who sit on the airline’s board include Moya Greene, the former Royal Mail Group chief executive, and Charles Gurassa, the Channel Four chairman.Sir Stelios said the Airbus order had saddled easyJet with an existential threat at a time when the world’s aviation industry had effectively… Read full this story
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