The chairman of British low-cost airline EasyJet said today he would resign next year to ensure the highest standard of corporate governance.
Mr Stelios Haji-Ioannou said his departure was part of a boardroom reshuffle requested by institutional investors that would leave most of EasyJet's directors being independent.
Easyjet said its commercial director, operations director and airports director will also resign as directors to become directors of easyJet Airline Company Ltd, the company which holds the air operators certificate.
Describing himself as a "serial entrepreneur," Mr Haji-Ioannou said he would remain a significant shareholder for a very long time but would need to sell part of his stake.
"I have no other source of income from EasyJet other than disposal of shares. As I have said before, I need to sell my past to finance my future".
Mr Haji-Ioannou's other activities include easyRentacar and easyInternetCafe, and he has plans for easyCinema low-cost movie theatres.