EasyJet finance boss to quit despite vote
EASYJET’S FINANCE director has said he will leave the business, just days after winning a vote that could have cost him the job.
Andrew Findlay plans to work out his year-long notice period and will step down in May 2021, he said on Tuesday.
His announcement comes just one working day after shareholders voted to save his job, and those of other top directors.
Last week, Sir Stelios Haji-Ioannou, easyJet’s founder and biggest shareholder, tried to get his fellow investors to oust Mr Findlay, chief executive Johan Lundgren, chairman John Barton, and a fourth director.
It was the culmination of a bitter battle between Sir Stelios and the board over a massive deal to buy more than 100 aircraft from plane-maker Airbus.
The tycoon argued that the £4.5bn contract could end up bankrupting the budget carrier.
However, chairman Mr Barton said that abandoning the deal might force easyJet to change its business model.
“The board believes that termination would be hugely detrimental and seriously impact the company’s ability to operate as a low-cost airline,” he said.
On Friday, nearly all of the votes not cast by Sir Stelios came down in favour of the board.
However, as he owns a big chunk of the company, 42 per cent of the votes cast still demanded the head of Mr Findlay and the other directors.
“I would like to thank the shareholders who supported me and my fellow directors in the recent general meeting.
“I intend to repay that support in the coming year,” Mr Findlay said