Fastjet could face another of its directors removed
Stelios Haji-Ioannou is looking to remove another of Fastjet's directors, and has called a general meeting to discuss the removal of executive chairman Colin Child.
Haji-Ioannou’s firm EasyGroup has claimed that since Child was appointed in September, he has failed to appoint a new CEO and to relocate the carrier’s offices to Tanzania.
It has also claimed that Child did not produce audited accounts by March 31 in attempt to prevent shareholders learning about the company’s financial situation.
"We suspect the reason is that Child wants to postpone the bad news because the auditors are not giving the company a 'going concern' status. Also Child has not done any of the cost-cutting that could have given the company the 12 month 'going concern' test," said Haji-Ioannou.
EasyGroup has suggested that if Child is removed, a CEO based in Dar es Salaam should be appointed, with Rob Burnham as interim chairman.
Fastjet will announce the meeting date in the future.
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