Chairman of easyJet to step down
Sir Mike Rake is to step down as chairman of easyJet, following repeated clashes with the airline founder Sir Stelios.
EasyJet said Rake, who became the airline’s chairman in 2010, was leaving at a time of his choosing after saying his work was done at the airline.
Sir Mike is chairman of BT, the telecoms group which is already in the FTSE 100, and easyJet is on the verge of joining the index after its shares rose 79 per cent in 2012.
"EasyJet has by any definition enjoyed a period of success and profitable growth in the last three years," said Sir Mike to the Financial Times.
"As this takes the airline to the threshold of entry to the FTSE 100 it is the right time for me to stand down."
Sir Stelios tried and failed to oust Sir Mike as easyJet’s chairman at an extraordinary shareholder meeting last year, when he was accused of having too many corporate interests.
Sir Mike will seek re-election at easyJet’s annual meeting on February 21, to give the board time to identify a new chairman, before leaving the easyJet board in the summer.
One potential successor to Sir Mike is Charles Gurassa, former chief executive of Thomson Travel Group and easyJet’s deputy chairman.
Diane
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