16 May 2024
easyJet plc
('easyJet' or the 'Company')
CEO Succession
Plan
The Board of easyJet is pleased to
announce an orderly succession plan for its Chief Executive, Johan
Lundgren.
Johan Lundgren will step down as
Chief Executive and leave easyJet early in 2025 having then served
seven years as CEO. At that time Kenton Jarvis will succeed Johan
and become the easyJet CEO. Kenton joined easyJet in February 2021,
serving as a Board member and Chief Financial Officer since
then. He will continue in the role of CFO during the
transition period and a search for his successor will commence
shortly.
Sir
Stephen Hester, Chair of easyJet, comments:
"We are sad that Johan will
retire from easyJet. He has done an excellent job as our CEO since
December 2017; steering the company through the immense challenges
of the COVID period, and setting up a clear strategy and strong
execution plan towards its ambition of "being Europe's most loved
airline, winning for customers, shareholders and our people". There
is good positive momentum and Johan will be with us to close out
the current year which we hope will be another one of strong
progress.
"We are also delighted to be able to announce Kenton as our next
CEO, allowing an orderly and seamless transition. The appointment
was made after a thorough process with a strong internal and
external field of candidates. We are focused on executing the
medium term plan and related financial targets set out earlier this
year and see Kenton as the ideal person to lead our executive team
to that end. He has impressed since joining easyJet in 2021, is
fully bought in to the plan and will hit the ground
running."
Johan Lundgren, easyJet CEO,
comments:
"I congratulate Kenton on being nominated my successor, it is fully
deserved, and I will work closely with him and the whole executive
team to achieve this year's goals and hand over responsibilities
smoothly at the end of the year. There are important things
still to accomplish over the balance of the year, but when the time
comes I will leave easyJet with a great sense of loyalty and of
pride at the progress made and the potential the Company has for
the future."
Kenton Jarvis, easyJet CFO,
comments:
"I am delighted to have been
appointed the next CEO of easyJet and thank the Board and my
colleagues for their trust and confidence. I am a huge believer in
the future for our airline, which is powered by the talents and
enthusiasm of our front line staff. I will be immensely proud to
lead our teams to fulfil easyJet's bright potential."
This announcement contains inside
information.
For
further details please contact easyJet plc:
Adrian Talbot
|
Investor Relations
|
+44 (0) 7971 592 373
|
|
|
|
Media:
|
Anna Knowles
|
Corporate Communications
|
+44 (0)7985 873 313
|
Olivia Peters /
Harry Cameron
|
Teneo
|
+44 20 7353 4200 /
easyjet@teneo.com
|
LEI: 2138001S47XKWIB7TH90
Notes:
Johan
Lundgren
·
Johan Lundgren will be
treated in accordance with easyJet's remuneration policy and his
service contract for the remaining term of his employment.
He will be treated as a good leaver for the
purpose of incentives. Johan is expected to step down from the
Board and as Chief Executive on 1 January 2025. He will remain with
the business until the conclusion of his notice period on 16 May
2025 during which period he will be available to support the
business as required. Full details will be
disclosed on easyJet's website in compliance with Section 430(2B)
of the Companies Act 2006 and in the Directors' Remuneration Report
within the Company's Annual Report for the year ended 30 September
2024.
Kenton
Jarvis
·
Kenton Jarvis joined
easyJet in February 2021
and has served as a Board
member and Chief
Financial Officer since then. His previous
career history encompassed chartered accountancy at PWC, finance
roles at Adidas, Airtours Holidays and TUI and a period as CEO of
TUI's airline division.
·
Kenton's remuneration package will be structured
in line with the Company's existing policy for its CEO. On
appointment his annual salary will be £800,000.
·
There is no further information to be disclosed
pursuant to Listing Rule 9.6.13.