* UK budget airline's founder had fought to oust chairman
* Rake has expanding role as Barclays deputy chairman
* EasyJet says search has begun for Rake's replacement
LONDON, Jan 26 (Reuters) - EasyJet Chairman MikeRake will step down this summer, the budget airline said onSaturday, ending a fight by its founder and largest investor tooust him because of his expanding role as deputy chairman ofBarclays.
Founder Stelios Haji-Ioannou urged Rake to leave last Julyafter Barclays said he would spend more time with the Britishbank after the Libor interest-rate rigging scandal becamepublic.
The airline rejected the call at the time and described itas being part of a "continuing campaign to undermine the goodgovernance of the company."
Haji-Ioannou has had public disagreements with the airline'sboard over strategy, including whether it should expand and buymore planes. He founded the airline, with its distinctive orangebranding, in 1995.
In a statement, Rake said he wanted to make his positionclear before the company's annual general meeting on Feb. 21.
"EasyJet has by any definition enjoyed a period of successand profitable growth in the last three years," he said. "Asthis takes the airline to the threshold of entry to the FTSE 100it is the right time for me to stand down."
Rake joined the easyJet board as deputy chairman in June2009 and became chairman in January 2010. He is also chairman ofBT Group.
Barclays (BARC)
easyJet (EZJ)
