FORMER EASYJET BOSS STELIOS HAJI-IOANNOU CALLS FOR EGM AT FASTJET
(Posted 04th March 2016)
Not satisfied with his feud with the current management at Easyjet has Stelios Haji-Ioannou now taken his cantankerous nature to Fastjet, where he reportedly holds a 12 percent share package.
Not entirely out of the blue but surprising for its sudden venom has SHI called for an Extraordinary General Meeting of the company where he will reportedly table several demands, among others the dismissal of outgoing CEO Ed Winter.
Winter a few weeks ago announced his resignation from the company but agreed to remain in office until a successor has been found and installed.
SHI also appears to have taken issue with management remuneration and the location of the company’s head office in London at Gatwick Airport. Fastjet PLC is a publicly quoted company under UK law and operates affiliates in Tanzania and Zimbabwe with operations due to be launched this year too in Zambia and Kenya.
Sources close to Fastjet played down the boardroom feud, pointing to considerable progress made in meeting business targets vis a vis passengers uplifted and revenues achieved in its African operations.
Stelios Haji-Ioannou’s notoriety and taste for trouble will no doubt be a major part of the consideration of other shareholders in the company, when they have to decide whom to side with, SHI or the other shareholders, no doubt remembering the multiple cases he brought against the current Easyjet management where he failed to stop expansion and strategic decisions taken.
No date could be confirmed for the EGM but news, when available, will be published right here.
