Johannesburg - African budget airline Fastjet said chief executive Ed Winter would step down on Friday, two weeks after its second-largest shareholder called for his dismissal.
Stelios Haji-Ioannou, who owns a 12 percent stake in the company through a private investment vehicle, called last month for a general meeting to dismiss Winter immediately.
Read: Fastjet flies into a storm
Haji-Ioannou had also called for the removal of general counsel Krista Bates and the appointment of non-executive chairman Colin Child to an executive position.
Haji-Ioannou, who founded budget airline easyJet in 1995, said Winter had created significant overheads for the company, resulting in a high cost base.
Fastjet said Bates would step down and that Child would be appointed executive chairman until a new chief executive was appointed. Fastjet declined to comment further.
REUTERS