EASYJET’S largest shareholder and founder, Stelios Haji-Ioannou, has attacked the company’s board over payments made to the airline’s former chief executive.
In a letter posted on his Easygroup website, the Greek entrepreneur said he would vote against a resolution to approve directors’ remuneration for 2009/10 at the company’s forthcoming annual general meeting.
Mr Haji-Ioannou, who is still Easyjet’s largest shareholder, with a 26% stake, wrote to the carrier’s chairman, Michael Rake, yesterday, to complain that he was not consulted on Andrew Harrison’s pay deal covering the period April 1 to September 30, 2010, by the then interim chairman, David Michels.
Mr Harrison left the airline at the end of June, 2010, but agreed to be available on a consultative basis. Accounts show that Mr Harrison received £750,000 for the period from April 1 to September 30 and a £250,000 bonus.
