EasyJet chairman seeks re-election

ISTANBUL

EasyJet is a British airline headquartered at London Luton Airport. REUTERS/Darrin Zammit Lupi

The Chairman of easyJet, Michael Rake, eyes an upcoming re-election at the company’s Annual General Meeting, despite the board’s recent announcement of his intention to step down, according to a company press release earlier today.

“Sir Mike will still seek re-election at the Annual General Meeting on Feb. 21 and has agreed to remain in his post in order to ensure a smooth handover and provide the board time to identify a suitable replacement.”

The Board’s Nomination Committee has begun a process to select and appoint a successor, reviewing both internal and external candidates, it said.

Previously, Rake had stated that he wanted to make his position clear about the meeting. “EasyJet has, by any definition, enjoyed a period of success and profitable growth in the last three years. As this takes the airline to the threshold of entry to the FTSE 100, it is the right time for me to stand down,” he had said.

Rake’s announced decision to step down was due to a long battle with the company’s founder and largest shareholder, Stelios Haji-Joannou.