It makes me laugh, Stelios is the biggest shareholder in the company, yet he still does not have a controlling stake.
This means, if the dispute was based on the expansion of the airline, the board would be able to go ahead as they planned as Stelios only has a 38% say. If he was so wrong, then surely the board would be confident enough that the remaining 62% would agree with the proposed expansion if an EGM was called on the matter, which would never happen.
Does this not mean that the board themselves didn't believe in their own expansion plans?
If I had a serious investment in a company and had employed personnel to run it for me, I would have confidence in their decisions. However, if I felt that it would stand a chance of ruining my stake in the company, then I would have my say and I am sure that Stelios thought hard before making his opinion known.
Now the matter of him returning to the board. I am pretty sure it isn't going to happen any time soon. The man has moved on and his interest will now solely be the numbers on the books rather than the smiles on the faces of passengers (being one of his early day pleasures). However, being an entrepraneur, surely he would be able to bring something different to the airline.
It is arguable that MOL is an entrepranuer - he pretty much started Ryanair from scratch in their new format and has consistently grown the carrier. He has certainly brought something different to the industry - could Stelios not return and do the same? Just a question...
It is no doubt that Stelios has revolutionised the European skies and he should be respected for that. His experience in the airline industry may not be the longest but surely he has more 'know-how' than certain members of the board. It's not like the CEO worked in a different industry, say motor maintenance, is it? Oh wait...