REG - easyJet PLC - CEO Succession Plan

easyJetAnnouncement

16/05/2024 07:00

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RNS Number : 6286O  easyJet PLC  16 May 2024

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 /  Teneo                     +44 20 7353 4200 /

 Harry Cameron                              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.

 

 

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