The FT's Andrew Hill has just published the following opinion:
Sir Stelios's public interventions at EasyJet are ill-judged. As a director, he has a right to make specific points about the airline's strategy and accounting in private. But there's a reason why cases where non-executives append dissenting opinions to listed company results statement are few and far between: going public with complaints can only make matters worse. It's particularly odd in Sir Stelios's case, as the value of his shareholding can only be damaged by further open sparring.
Meanwhile, if there are other investors out there who believe Sir Stelios is right to call for even greater prudence, they are unlikely to lend public support, lest they inflict greater damage on the share price.(...)
Wisely, EasyJet management let the airline's results speak for themselves. The message to Sir Stelios is clear: the captain has illuminated the Fasten Seatbelts sign; please return to your seat.