EasyJet shareholders to vote on bid to oust directors

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>EasyJet shareholders will vote on whether to support founder Sir Stelios Haji-Ioannou’s bid to oust the company’s chief executive and chairman&period;<&sol;p>&NewLine;<p>The airline announced it will hold a general meeting on May 22 for the vote to take place&period;<&sol;p>&NewLine;<p>Sir Stelios&comma; the airline’s largest shareholder&comma; has called for the removal of chief executive Johan Lundgren&comma; chairman John Barton and two non-executives&comma; describing the people in charge of the company as &OpenCurlyDoubleQuote;scoundrels”&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;154130" aria-describedby&equals;"caption-attachment-154130" style&equals;"width&colon; 600px" class&equals;"wp-caption aligncenter"><img class&equals;"size-full wp-image-154130" src&equals;"https&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2020&sol;04&sol;73DB8F31-74DE-4232-A50F-7762B5FFDC9D&period;jpeg" alt&equals;"" width&equals;"600" height&equals;"418" &sol;><figcaption id&equals;"caption-attachment-154130" class&equals;"wp-caption-text">Sir Stelios Haji-Ioannou wants easyJet to terminate its entire £4&period;5 billion order with Airbus for new aircraft<&sol;figcaption><&sol;figure>&NewLine;<p>He wants the carrier to terminate its entire £4&period;5 billion order with Airbus for new aircraft&comma; claiming it will lead to the airline running out of money amid the collapse in demand caused by the coronavirus pandemic&period;<&sol;p>&NewLine;<p>EasyJet has agreed with the European manufacturer to defer the delivery of 24 new aircraft&period;<&sol;p>&NewLine;<p>The airline is urging its shareholders to vote against Sir Stelios’ resolutions&comma; warning that removing four directors would be &OpenCurlyDoubleQuote;extremely damaging and destabilising at this critical time”&period;<&sol;p>&NewLine;<p>Mr Barton said&colon; &OpenCurlyDoubleQuote;The board of easyJet firmly believes that holding a general meeting is an unnecessary distraction at a time when the airline industry is facing unprecedented challenge&period;<&sol;p>&NewLine;<p><&excl;--Ads1--><&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The resolutions to remove the directors are an attempt to force easyJet to terminate its Airbus contract&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This is not in the best interests of the company or its shareholders as a whole&period;”<&sol;p>&NewLine;<p>Sir Stelios and his family own 34&percnt; of easyJet shares&period;<&sol;p>&NewLine;<p>The PA news agency understands that no other shareholders have come out in support of his proposals&period;<&sol;p>&NewLine;<p>Sir Stelios claimed easyJet’s statement makes its directors &OpenCurlyDoubleQuote;sound just like an Airbus chief marketing officer”&comma; adding&colon; &OpenCurlyDoubleQuote;I hope the second job pays better than the first because they will be losing that one pretty soon&period;”<&sol;p>&NewLine;<p>He insisted that &OpenCurlyDoubleQuote;cancelling the Airbus contract is the only chance we have to save easyJet”&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed2cf189f04">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; 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