newswatcher
13th Sep 2002, 09:07
From The BBC(13/9):
"The founder of no-frills airline Easyjet, Stelios Haji-Ioannou, is to step down from his post as chairman earlier than expected.
Mr Haji-Ioannou announced in April that he would be standing down, but said he would be leaving the role in early 2003. But he has changed his mind and will now quit the post when the airline's full-year results are announced on 26 November. In a statement he said that the acquisition of budget airline Go was complete, and that the integration of the two airlines was "well under way".
Easyjet's new chairman will be Sir Colin Chandler, the former chairman of Vickers Defence Systems.
Mr Haji-Ioannou will remain chairman of the other companies within the Easy empire, and he said that they were progressing well.
"As a result of concentrating my efforts on my newer businesses over the last year, I am pleased to announce that Easyinternetcafe has turned the corner and I am looking forward to helping it grow into a substantial business in the next 2-3 years," he said
He said Easycar was on track for a stock market flotation at the end of 2004 and he was also working on a new business called Easycinema.
Mr Haji-Ioannou currently owns almost 22% of Easyjet and said he would remain a "significant" shareholder in the airline for a very long time.
"I have no present intention to sell any Easyjet shares in the near future," he said.
"The founder of no-frills airline Easyjet, Stelios Haji-Ioannou, is to step down from his post as chairman earlier than expected.
Mr Haji-Ioannou announced in April that he would be standing down, but said he would be leaving the role in early 2003. But he has changed his mind and will now quit the post when the airline's full-year results are announced on 26 November. In a statement he said that the acquisition of budget airline Go was complete, and that the integration of the two airlines was "well under way".
Easyjet's new chairman will be Sir Colin Chandler, the former chairman of Vickers Defence Systems.
Mr Haji-Ioannou will remain chairman of the other companies within the Easy empire, and he said that they were progressing well.
"As a result of concentrating my efforts on my newer businesses over the last year, I am pleased to announce that Easyinternetcafe has turned the corner and I am looking forward to helping it grow into a substantial business in the next 2-3 years," he said
He said Easycar was on track for a stock market flotation at the end of 2004 and he was also working on a new business called Easycinema.
Mr Haji-Ioannou currently owns almost 22% of Easyjet and said he would remain a "significant" shareholder in the airline for a very long time.
"I have no present intention to sell any Easyjet shares in the near future," he said.