EasyJet fends off attempt to oust chairman

EasyJet fended off an attempt to oust its chairman yesterday in the latest spat between the low-cost airline’s founder, Stelios Haji-Ioannou, and its directors.

A resolution to eject Michael Rake, who is also deputy chairman of Barclays, failed to win the support of the majority of shares at a meeting at its Luton Airport base, with 53.3% rejecting the proposal.

However, because Mr Haji-Ioannou, along with members of his family controls 37.5% of the shares and not all shareholders voted, the result means that nearly 96% of the shares not under his control voted in favour of Mr Rake.