easyJet PLC - board changes
09-Dec-2009 easyJet plc confirmed today that Sir Michael Rake will take over from Sir David Michels as the Group's Chairman with effect from 1 January 2010, at which point Sir David will resume the role of Senior Independent Director. Sir Michael joined the Board of easyJet plc in June 2009 as Deputy Chairman and Senior Independent Director. Given the experience of both Sir Michael and Sir David, these appointments will ensure the continued strong leadership of the easyJet plc Board.
Andy Harrison, Chief Executive Officer, has indicated his desire to leave the Company in order to seek new challenges. Accordingly, the Board has agreed with Andy that he will remain in his current role until 30 June 2010 when it is anticipated he will step down from the Board and leave the Company. The terms of Andy's employment have been amended to include an appropriate retention arrangement to enable a smooth transition and he will be working closely with the Board to ensure this. The Board will make an announcement of a new appointment in due course.
In May 2009, following other changes to the easyJet senior management team, the Board amended the terms of Andy's service agreement to put in place a retention agreement to ensure his presence as Chief Executive through to at least the first quarter of 2010. easyJet continues to trade in line with the comments made at its recent results announcement on 17 November 2009. Sir Michael Rake said: "I am delighted to be taking over the Chairmanship of a company that has achieved so much since it started fourteen years ago. Andy Harrison has done a great job over the past four years and under his leadership, easyJet has developed into a truly pan-European airline operating Europe's leading air transport network. easyJet has a very strong senior management team and I look forward to being part of the continuing development of the business."
Sir David Michels said: "easyJet has been the best performing European airline through the recession and we thank Andy for his considerable contribution during this period and his leadership of the Company over the last four years. The Board of easyJet is confident that easyJet is well positioned for the future and is delighted to confirm Mike Rake's appointment as Chairman." Andy Harrison said: "easyJet is a great company with a strong management team and I am sure under Mike's Chairmanship, easyJet will continue to grow from strength to strength. I am looking forward to being part of the process of selecting my successor and am committed to ensuring a smooth transition. I have loved being a part of easyJet's success but am now looking forward to moving on to a new challenge."