Stelios defeated over easyJet management pay deal
Sir Stelios Haji-Ioannou suffered a defeat at the hands of easyJet board yesterday.
Haji-Ioannou and his family, who own 37.4% of the airline, voted against an £8 million pay deal for 10 easyJet executives at Easyjet’s annual general meeting.
But the vote was passed by 55.7% to 44.3% in support of the pay deal.
Haji-Ioannou had also voted against the re-election of Easyjet chairman Sir Michael Rake and four other directors, but this was also passed by shareholders.
Rake said: "It’s clear from the votes cast that easyJet’s shareholders have overwhelmingly voted with the board and we thank them for their support.
"Over 99% of the shares voted by shareholders, other than Stelios and his family, were cast in favour of the board’s re-election and 97% were voted in favour of the company’s remuneration report."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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