Sir Stelios Haji-Ioannou has criticised the accounting policies of the board
of easyJet which has led to his refusal to sign off on company accounts.
Sir Stelios, who owns more than a third of the airline, outlined his
justification for the stance in a formal statement attached to the final
results, according to
He said accounting policies demonstrated by members of the board fail in
reflecting ‘current commercial realities and the macro-economic climate’.
Neil Mirchandani, partner at Lovells, confirmed the accounts have been
approved by the board and PricewaterhouseCoopers, the airline’s auditor.
‘It is quite unusual. Under normal situations if a director is unhappy or
unsatisfied with accounts they would resign rather than sign-off. Stelios is
still a major shareholder in the company, so he is not simply going to give up,’
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