Stelios launches new attack on former easyjet boss

10th Feb 2011 12:22

Easyjet founder Sir Stelios Haji-Ioannou has fiercely criticised the payments last year to former chief executive Andy Harrison, ending a recent truce between himself and the airline's board.In a letter to Easyjet chairman Sir Michael Rake, Sir Stelios complains that "Mr Harrison walked away with £2.6m in his pocket for less than a year's worth of work plus another 400,000 stock options". He says he was not consulted on the package, adding "decisions on crew numbers made in the winter of 2009/10 by Andrew Harrison in order to optically improve easyJet's quarterly numbers led to the crew shortages in the summer of 2010, which in turn caused the reputation of both the company itself and the "easy" brand to sink to an all-time low in July and August 2010. "Sir Stelios added that he will vote against the directors' pay resolution at the forthcoming AGM and also abstain on the vote over the re-appointment of Sir David Michels as a director. Sir David was interim chairman at the time Andy Harrison's payoff package was agreed. Last October, easyJet agreed a settlement to its acrimonious dispute with founder Sir Stelios over its continued use of the 'easy' name. For the next fifty years, easyJet will have to pay an annual royalty of 0.25% of revenues, fixed at £3.9m and £4.95m in the first and second years respectively.