easyJet appoints Stephen Hester as a director and Chair designate

easyJet appoints Stephen Hester as a director and Chair designate

LONDON, UK: easyJet plc has appointed Stephen Hester as a director and Chair designate.

Stephen will join the Board as a non-executive director on 1 September 2021 and then he will succeed John Barton as the Company’s Chair on 1 December 2021, at which point John will stand down from the Board having completed nearly nine years as Chairman.

Stephen Hester is a highly strategic and successful leader with more than 35 years of wide-ranging experience at major businesses, bringing a strong track record of value creation and listed board experience.

Stephen has served as Chief Executive of RSA Insurance Group plc from February 2014 to May 2021, as Chief Executive of Royal Bank of Scotland Group, Chief Executive of British Land plc and Chief Operating Officer of Abbey National plc, as well as holding a number of senior executive roles at Credit Suisse First Boston in London and New York.

He currently serves as a Senior Independent Director of Centrica plc having previously held a senior non-executive position as Deputy Chairman of Northern Rock.

Commenting on the appointment, John Barton, Chair of easyJet, said: “I am delighted that Stephen has been appointed as the next Chair of easyJet. His significant and varied experience leading major international businesses in regulated industries, coupled with his outstanding strategic thinking will serve the airline well as it leads the recovery in the post-pandemic era, complementing and adding to the skills of the existing Board and leadership team.

“It has been an absolute privilege to be the Chair for easyJet for nearly nine years – it is a unique, dynamic and customer-centric business, driven by the passion of its people. I am proud of how easyJet has not only navigated through the pandemic but has adapted and built back stronger leaving it extremely well positioned for the future. So it is with much confidence I will hand the reins over in the coming months to Stephen who will continue to drive easyJet’s future success.”

Julie Southern, Senior Independent Director, said: “We are extremely pleased to have appointed a Chair of Stephen’s calibre. Throughout our comprehensive search Stephen consistently emerged as the stand out candidate, chosen by the Board due to his exceptional experience, valuable commercial expertise, insightful and strategic leadership along with his ability to tackle complex challenges.

“Stephen’s appointment will enable a smooth transition ahead of John reaching his nine year tenure as Chair. On behalf of the Board, I would like to thank John for the outstanding contribution he has made to easyJet. He has successfully guided the business through many challenges and successes including significant increase in customers and growth of the network, the launch of our industry-leading sustainability strategy, as well as more recently having navigated the airline through the pandemic to ensure it is positioned to emerge with renewed strength. We wish him well in the future.”

Stephen Hester commented: “As a long-standing admirer of easyJet, and from my own experience as a customer, I am very excited to be joining the airline and look forward to playing my part in driving its continued success.

“I see so many opportunities for this iconic brand in the coming years, all underpinned by its proven business model, unrivalled network and loyal customer base. I am convinced we can be winners in the European airline industry of the future, serving customers well and driving attractive shareholder value. I can’t wait to join the easyJet team. “

Johan Lundgren, Chief Executive said: “I am very much looking forward to working with Stephen at this important time in our history as we continue to build on our many strengths and take advantage of the many opportunities that lie ahead following the pandemic. Over the past nearly nine years, the airline has benefitted greatly from John’s wise leadership and so my thanks also go to him for his outstanding contribution during his time with us.”

easyJet plc share price

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20 Aug, 4:35 pm GMT+1 ยทDisclaimer


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