Stelios wins easyJet dividend battle
28.03.10
Directors at easyJet have 'quietly agreed to pay a dividend to shareholders, ending a long dispute with Sir Stelios Haji-Ioannou, founder of the low-cost airline', the Times reports. The newspaper quotes 'senior sources on the board', who say that the directors have conceded that easyJet could grow more slowly and use cash earmarked for new aircraft to make regular payouts to shareholders.
The issue was at the heart of the bitter row last year between Stelios, his fellow directors and the budget airline's management. Stelios said the company should slow its growth during the recession and use excess cash to pay dividends to shareholders, against the wishes of management. Sir Colin Chandler, the chairman, resigned at the height of the row and Andy Harrison, chief executive, signed a 12 months golden handcuffs deal but is leaving to join Whitbread as soon as it expires. The airline also lost its finance director.
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book luton airport hotel or luton airport car park at the lowest price, click on these links to two great luton airport car parking and luton airport hotel price comparison pages.
