The expected easyJet FTSE 100 entry during the index’ reshuffle in March will see chairman Sir Michael Rake step down. Sir Rake will step down to avoid a corporate governance row as he is currently the chairman of BT.
Best practice guidelines indicate that professionals should not act as chairman for more than one company of the FTSE 100 index.
On Friday, easyJet shares achieved a record high of 945p with a market capitalisation of £3.7bn.
The low-cost airline is approximately the 90th biggest company in the UK by way of market capitalisation, and this makes it seem highly certain that the company will enter the FTSE 100 during March.