Chairman of British no-frills airline easyJet to step down
LONDON (AFP) - British no-frills airline easyJet announced on Sunday that its chairman Mike Rake is to step down this year, following a long battle with the company's founder and largest shareholder Stelios Haji-Ioannou.
"Sir Mike Rake has informed the board of his intention to step down as a non-executive director and as chairman of easyJet in summer 2013," the airline said in a statement.
It added that Mr Rake, who has been easyJet chairman since January 2010, has agreed to remain in the post until a suitable replacement is found.
Mr Haji-Ioannou had made several attempts to oust the chairman following disputes over executive bonuses and plans to order new planes.