Sir Stelios Haji-Ioannou is expected to vote against plans to award easyJet chief executive Carolyn McCall a £6.4 million pay package.
People close to Sir Stelios, whose family is the largest shareholder in the budget carrier with a 36% stake, said it is likely he will oppose the remuneration report at Thursday’s annual meeting, the Financial Times reports.
Sir Stelios, who founded the airline in 1995, has campaigned against excessive boardroom pay at easyJet for several years.
He voted against Ms McCall’s £5 million pay package last year.
EasyJet revealed in December that McCall was in line for a pay package of £6.4 million for 2013. This included a bonus of £1.2 million and £4.6 million under a long-term incentive plan, on top of her basic salary of £665,000.
Chief financial officer Chris Kennedy will receive £3.7 million, including a bonus of £533,000 and £2.7 million, under the incentive plan, more than double his remuneration the previous year.
At the time, Sir Stelios criticised the size of the pay handed to McCall, saying it was “another case of City insiders enriching themselves without taking any risk,” according to the FT.
McCall’s pay comes after a year when the low-cost airline’s profit soared 51% to £478 million and it announced a £175 million special dividend to shareholders.