8th Jun 2020 08:28
(Alliance News) - easyJet PLC on Monday said Deputy Chair & Senior Independent Director Charles Gurassa will be stepping down at the end of the year.
Gurassa will be leaving on December 31 after nine years on the board "in line with corporate governance best practise", which requires that the independence of directors serving more than nine years be subject to rigorous review.
Along with Gurassa, Independent Non-Executive Director Andy Martin will be leaving the budget airline's board. The reason for his departure is the same as Gurassa's - namely that he has been on the board for nine years. Martin, who chairs the firm's finance committee, will depart on August 31.
esyJet's nominations committee will begin reviewing the board's composition, and the composition of committees, "shortly". This will include picking a new senior independent director.
Shares in easyJet were up 2.5% at 913.62 pence in London in morning trading.
Late last month, the company said Chief Financial Officer Andrew Findlay is to step down in May next year despite shareholders voting to keep him in his job at the airline's most recent general meeting.
The meeting was convened by disgruntled founder and largest shareholder Stelios Haji-Ioannou. Roughly 58% of easyJet's shareholders voted against the resolutions to remove Chair John Barton, Chief Executive Johan Lundgren, Findlay and Independent Non-Executive Director Andreas Bierwirth, with 42% in favour.
Haji-Ioannou declared the voting results fraudulent as he claimed that at least 15% of the shares were held by what he called "strawmen", controlled by aircraft supplier Airbus SE and therefore "related parties".
On Wednesday last week, it was confirmed that easyJet will be bumped from the FTSE 100 down to the FTSE 250 on June 22.
By Anna Farley; [email protected]
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