EasyJet founder Stelios Haji-Ioannou failed to vote the airline's board away at a shareholders' meeting on Friday. Haji-Ioannou wanted to vote the board away, because he thinks the board spends too much money and yields too little.
The easyJet founder wanted the chairman of the board, the chairman of the supervisory board and the chief financial director to step down. He believes that the board has bought overpriced Airbus aircraft. The aircraft of the French aircraft maker cost easyJet $ 5.6 billion (5.14 billion euros).
Major shareholders of the airline had already announced before the meeting that they would support the board. Haji-Ioannou and his family together own 34 percent of the shares, so it was already assumed that the founder would not get a majority of the votes.
Haji-Iannou founded the budget company in 1995 and left the board in 2010. Since then he has been in trouble several times with the board. In fact, the founder was so angry with the purchase of the Airbus aircraft that he offered £ 5 million (converted $ 5.59 million) for information that would lead to the deal being dropped.