Sir Stelios Haji-Ioannou, who is a major shareholder of Fastjet, has called a general meeting to immediately dismiss Fastjet’s chief executive, Ed Winter, and remove another director, Krista Bates, from the main board. Winter has already announced he would step down as chief executive, pending a successor being found, but Haji-Ioannou is calling for him to go sooner citing cost concerns. In a letter to Fastjet’s chairman, he said: “The company has a ridiculously high cost base … Winter has burnt some £80m in the last three years. We believe the company will run out of cash sometime in 2016.
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.