EasyJet has urged shareholders to reject an attempt by the budget airline’s founder and largest investor Stelios Haji-Ioannou to oust chairman Mike Rake because of his increasing commitments to Barclays, where he is deputy chairman.

Stelios, through his easyGroup Holdings, called for Rake to go earlier this month when Barclays said he would spend more time with the bank after an interest-rate rigging scandal became public.

EasyJet said Stelios’ actions were part of a “continuing campaign to undermine the good governance of the company and to override normal corporate governance protocols”, adding it was the third time he had requested the removal of a director of the company in 11 months.

The airline said seven institutional shareholders, holding a combined 26.5 percent stake, had agreed to support the board and vote against the resolution.

Stelios holds 26.4 percent of the stock, according to Thomson Reuters data.

A shareholder meeting will be held on Aug. 13 at London Luton airport, the company added.

Reuters