(Alliance News) - easyJet PLC founder and largest shareholder Stelios Haji-Ioannou on Monday renewed his call for a general meeting to remove Chief Financial Officer Andrew Findlay and Non-Executive Director Andreas Bierwirth from their positions.
Findlay joined the budget airline in 2015 from car parts and bicycles retailer Halfords Group PLC.
Meanwhile, Bierwirth joined the board of the easyJet in July 2014 and is currently chief executive of Magenta Telekom, formerly known as T-Mobile Austria.
Haji-Ioannou on Thursday last week had called for a general meeting to remove Bierwirth from his position, but easyJet had rejected the requisition notice as invalid, on the grounds that it did not comply with the requirements of the Companies Act 2006.
"Given the delay the directors have caused with this dirty trick and as time is of the essence, I will up the ante and will now call for the removal of two directors. Every time they delay the vote again in the future I will call for the removal of one more director. Let's get on with it and give all
shareholders a vote without any further procrastination," Haji-Ioannou said on Friday.
"Therefore, I will now select Andrew Findlay as the 2nd director to be removed from the board. As the CFO who came from Halfords to easyJet in 2015, it is the best way to stop him writing billion pound cheques plus to Airbus every year," he added.
On Monday last week, Haji-Ioannou warned he would seek the removal of the entire board unless the company cancelled a GBP4.5 billion aircraft contract with Airbus SE, as the budget airliner grounded its entire fleet.
In a letter addressed to easyJet's board, Haji-Ioannou said he will send notices of general meetings to remove non-executive directors of the company for dereliction of duty unless his demands were met. He owns 34% of the company via investment vehicle easyGroup Holdings Ltd, which sent the requisition notice.
At present, easyJet has grounded its entire fleet due to travel restrictions imposed by governments around the world in response to the coronavirus pandemic.
Shares in easyJet were up 9.4% at 519.80 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Halfords (HFD)
easyJet (EZJ)