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(Alliance News) - All resolutions put forward by easyJet PLC's founder & largest shareholder, Stelios Haji-Ioannou, to oust the airline's senior management including chair and chief executive officer were defeated at the general meeting held on Friday, easyJet said, as it faced a potential GBP18 billion lawsuit over customer data breach.
easyJet shares were trading 1.0% lower in London on Friday at 569.00 pence each.
At the company's general meeting, roughly 58% of shareholders voted against the resolutions to remove Chair John Barton, Chief Executive Officer Johan Lundgren, Chief Financial Officer Andrew Findlay and Independent Non-Executive Director Andreas Bierwirth, with 42% in favour.
Other than Haji-Ioannou, with a 34% stake, big easyJet shareholders include Invesco Ltd, with a 10% stake and Black Rock Inc, holding 5.0%, according to Morningstar.
Excluding Haji-Ioannou's 34% stake, 79% of independent investors rejected the proposed resolutions to remove the four easyJet executives. easyJet also noted at 99% of independent shareholders outside the Haji-Ioannou family concert party voted in favour of the board.
On the meeting results, easyJet Chair Barton said: "On behalf of the board I would like to thank shareholders for their support. The board seeks good relationships with all of the company's shareholders and hopes to be able to re-engage constructively with Sir Stelios."
Earlier on Friday, Haji-Ioannou's easyGroup had asked easyJet's directors to reveal any direct or indirect stake owned by Airbus SE in easyJet, increasing pressure ahead of the tense general meeting.
The businessman had also asked about links between easyJet directors and three Swiss lawyers and whether easyJet is a "going concern".
On Tuesday last week, Haji-Ioannou said he is willing to offer GBP5.0 million to anyone with information that could stop the carrier's GBP4.5 billion aircraft order from manufacturer Airbus. It was the latest bizarre twist in a battle that has seen Haji-Ioannou routinely lambaste easyJet's top team.
Earlier this month, Haji-Ioannou alleged that three investors backing the airline's management are working on behalf of Airbus.
Without offering any specific evidence, he said Invesco, Ninety One UK Ltd and Phoenix Asset Management are trying to keep the company's board members in their jobs, so they can continue paying more money to Airbus. The three investors jointly own a 14% stake in easyJet.
Haji-Ioannou also said in the letter Friday that he believes that there is a conflict of interest for Barton to be chairing a meeting that concerns his removal as a director.
Separately, law firm PGMBM said Friday that it has filed a GBP18 billion class action claim in the High Court of London on behalf of easyJet customers impacted by the recent data breach at the company.
EasyJet on Tuesday had said that sensitive personal data of nine million customers had been exposed in a data breach. The GBP18 billion claim amounts to GBP2,000 per affected customer.
According to the law firm, the data breach itself occurred in January but despite notifying the UK’s Information Commissioner's Office at that time, easyJet waited four months to notify its customers.
"The sensitive personal data leaked includes full names, email addresses and travel data that included departure dates, arrival dates and booking dates. In particular, the exposure of details of individuals’ personal travel patterns may pose security risks to individuals and is a gross invasion of privacy," PGMBM said.
Tom Goodhead, PGMBM's managing partner, said: "This is a monumental data breach and a terrible failure of responsibility that has a serious impact on easyJet's customers."
By Evelina Grecenko; updated by Tapan Panchal
evelinagrecenko@alliancenews.com; tapanpanchal@alliancenews.com
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