Sir Stelios set to oppose easyJet chiefs’ pay

EasyJet founder and largest shareholder Sir Stelios Haji-Ioannou is to vote against the airline’s remuneration report at its AGM.

He has long opposed the pay packages of the board’s top executives.

Sir Stelios questions the basis upon which the company remunerates its senior staff, dismissing the way in which it calculates return on capital employed, the metric used in its long-term incentive plan scheme, according to the Sunday Telegraph.

His criticisms come in a 20-page presentation circulated to institutional investors in the past week. It comes ahead of the airline releasing its first quarter financial results on Thursday and an investor day on January 31.

The AGM is due to be held on February 23.

EasyJet chairman Sir Michael Rake told the newspaper that the attack by Sir Stelios “is at odds with the clear success of Britain’s biggest airline”.

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