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Published on Tuesday, May 26, 2020

EasyJet finance chief quits after surviving attempt to oust him



EasyJet's chief financial officer Andrew Findlay has resigned just days after surviving an attempt to oust him.


Independent shareholders voted almost unanimously against easyJet founder Sir Stelio Haji-Ioannou's motion to remove Findlay, chairman John Barton, CEO Johan Lundgren and independent non-executive director Andreas Bierwirth at a general meeting on Friday.


Sir Stelios was angry at the directors' refusal to cancel a £4.5 billion order for 107 new Airbus aircraft, which he argues puts the airline's future at risk.


At the time, Barton said: "On behalf of the Board I would like to thank shareholders for their support. The airline industry is facing unprecedented challenges and the Board's immediate priority has been to take the necessary steps to successfully guide easyJet through this period of uncertainty


"We are relentlessly focused on cash conservation and ensuring that easyJet emerges from the Covid-19 crisis in a strong competitive position. The Board seeks good relationships with all of the Company's shareholders and hopes to be able to re-engage constructively with Sir Stelios."


However, the airline revealed this morning that Findlay, who joined easyJet in 2015, will leave the airline in May next year having offered his resignation.


CEO Lundgren praised Findlay for his efforts in helping to shore up easyJet's balance sheet during the coronavirus crisis, as the airline battles to keep costs down at a time when its planes are grounded.


 

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