Archive for January 30th, 2012

30 January 2012

Founder and major shareholder of listed company invites board to resign

easyJet founder to Board: Feel free to go, you’re easy to replace
Sir Stelios Haji-Ioannou responds to threats by unnamed easyJet plc directors to resign if he votes down the remuneration report:

“These guys are welcome to resign anytime. I know as shareholders we could easily replace them with talented executives and experience non-executive directors who will cost half as much in bonuses. We must take a stand against directors who seem to regard our company as their personal piggy bank to be dipped into at will. The gravy train of £180m free shares issued over the last decade must come to an end now.”

See also: easyJet founder alleges that the board misled shareholders, did not obtain shareholder consent to a transaction and failed to issue a profit warning as soon as possible

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30 January 2012

Activist investors in UK quoted companies: ICAEW report

“Most traditional fund managers might have 600 to 1,000 stocks in their portfolio, we might have six”

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