Budget airline easyJet has suffered a shareholder revolt over an executive pay deal that inflamed relations with founder Sir Stelios Haji-Ioannou.
Sir Stelios, whose family owns a 38% stake in the group, led a protest vote against easyJet’s remuneration report in anger at a retention deal for former chief executive Andrew Harrison – in particular, a £1 million six-month fixed agreement.
The no-frills carrier saw 52% of shareholder votes being cast against its pay report at its annual general meeting in Luton.
A further 25.3 million votes were withheld.
EasyJet said it “acknowledged the concern” expressed by some shareholders, but stressed the retention arrangements were made in a “unique set of circumstances”.
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