Michels quits easyJet early
Posted 27/08/2011
EasyJet deputy chairman David Michels has stepped down following a fall out with founder Stelios Haji-Ioannou and has been replaced by former British Airways senior executive Charles Gurassa.
Michels was due to leave at the end of 2011 but has left immediately to spare the airline the distraction of a shareholders' meeting sought by Haji-Ioannou. The entrepreneur is objecting to an order for 145 new aircraft and has been critical of Michels.
"The unwillingness of Michels and the rest of this board to put this matter to a shareholder vote proves that they have lost all legitimacy to run this company," said Haji-Ioannou in a statement. "They no longer enjoy the trust of the majority of shareholders.
"We will announce further plans to protect shareholder value next week."
An easyJet spokesman said Sir David had stepped down to avoid the unnecessary distraction and costs of an extraordinary general meeting and addded that the EGM was no longer necessary.
Originally published 27 Aug 2011 at: http://rss.feedsportal.com/c/398/f/5923/s/17b7f2a3/l/0L0Stravelmole0N0Cstories0C11491290Bphp0Dmpnlog0F1/story01.htm
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