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EasyJet Founder Stelios Haji-Ioannou Fails To Oust Chairman, CEO

EasyJet founder Stelios Haji-Ioannou failed in his attempt to oust four directors, including the Chairman and Chief Executive in an investor vote on Friday.

Haji-Ioannou, the airline's largest shareholder, had been seeking to oust four directors in a special shareholder vote as he seeks the cancellation of a 4.5 billion order for more than 100 new aircraft.

The Board had unanimously recommended that shareholders vote against these resolutions.

All four resolutions were defeated, with over 99% of votes cast by independent shareholders being in support of the Board.

easyJet Chairman, John Barton, said: "On behalf of the Board I would like to thank shareholders for their support. The airline industry is facing unprecedented challenges and the Board's immediate priority has been to take the necessary steps to successfully guide easyJet through this period of uncertainty. We are relentlessly focused on cash conservation and ensuring that easyJet emerges from the Covid-19 crisis in a strong competitive position. The Board seeks good relationships with all of the Company's shareholders and hopes to be able to re- ngage constructively with Sir Stelios."

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