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U.S. markets recover from steep losses
LONDON, Dec. 9 (UPI) -- British budget airline EasyJet said its chief executive officer, Andy Harrison, will step down at the end of June to pursue other challenges.
Harrison is leaving "to seek new challenges," the airline said in a statement Wednesday. His four years at EasyJet have been riddled with disagreements with the company's largest shareholder, Stelios Haji-Ioannou, who founded the company and whose family owns 38 percent, The Times of London reported on its Web site.
Since late 2008, Haji-Ioannou has said Harrison has been buying aircraft when he should be waiting for business conditions to improve.
Besides Harrison, four senior EasyJet executives have resigned recently, including Chairman Colin Chandler and Finance Director Jeff Carr.
Michael Rake, a non-executive deputy chairman, will step into the chairmanship, replacing interim Chairman David Michels, The Times said.
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