EasyJet investors back board in pay battle
21.05.12
“Standard Life Investments is supportive of the management team and its
current strategy which we believe will deliver value for shareholders,” said
the Edinburgh-based investor, which owns a 6.46pc stake, making it the
largest shareholder after Sir Stelios and his brother and sister.
To impress the point, Jonathan Cobb, governance and stewardship director, is
to travel to the annual meeting on February 23 where he is expected to make
a speech in support of the board.
The move by Standard Life is somewhat exceptional, given its policy to only
comment on how it has voted some three months after a company’s meeting
takes place.
In addition, easyJet has garnered support from M&G, which controls 6.43pc, and
Sanderson, which owns 4.65pc.
“We are extremely supportive of the easyJet Board, its management team and
their strategy and we will be voting in favour of all the resolutions at the
forthcoming AGM,” said Tim Sanderson, whose house manages $7.5bn (£4.7bn) of
funds.
Source: Telegraph.co.uk