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Stelios will make early exit
Easyjet’s founder, Stelios Haji-Ioannou is to step down earlier than expected.
He announced in April 2002 that he would handover to Sir Colin Chandler in early 2003, but following the successful integration of no-frills compeititor, Go, he says he will now leave at the announcement of the annual results in November.
He said: “In order to achieve a better delineation of accountability for the following financial year and, rather selfishly, in order to free up my time for my newer ventures, I have decided to step down and leave the board on 26 November”.
Mr Haji-Ioannou will hand over to Sir Colin Chandler, who was announced deputy chairman and chairman elect in April. Mr Haji-Ioannou intends to remain a significant shareholder in easyjet PLC for a “very long time”, but said: “I reserve the right from time to time to sell some of my shares to finance my new ventures”.
Mr Haji-Ioannou will remain chairman of the other “easy” companies, including easyInternetCafe, easyCar, and a new venture, easyCinema.
Read our previous stories:
19-August-2002 Easyjet rationalises Belfast to Scotland services
2-August-2002 Going, going, gone: easyjet completes Go takeover
16-May-2002: Ryanair welcomes easyJet acquisition of Go
8-May-2002: EasyJet takes option to buy BA’s German airline
7-May-2002: No-frills consolidation is ‘inevitable’ says analyst
06-May-2002: easyJet to buy no-frills rival Go for £400m
18-Apr-2002: EasyJet chairman to resign
19-Feb-2002 Report says BA was wrong to sell Go
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