Stelios Plans For His Succession

Times Online:

THE founder of the hotels to cruise ships empire Easy Group, Sir Stelios Haji-Ioannou, is considering a long-term succession plan involving a stock-market flotation.

The Greek entrepreneur, who is the sole shareholder in Easy Group, believes a listing could provide continuity for the Easy franchise after he steps down from day-to-day involvement in the company. At present, only Easyjet among Haji-Ioannou’s companies has a stock-market presence.

“I have to think about how this little structure (Easy Group) will survive my lifetime,� Haji-Ioannou said this weekend. “Investors in Easy-branded public companies will want to know what happens when I am no longer around.�

The tycoon, whose businesses now include pizza delivery and male-grooming products, said the flotation of Easy Group was a “genuinely long-term� project.

“It is not something we could do now even if we wanted to because the business does not have sufficient scale.�

Easy Group’s income comes from royalty charges from the various businesses and franchisees who operate single outlets of Haji-Ioannou’s pizza and internet café businesses.