easyJet has announced CEO Johan Lundgren will step down after seven years at the helm.
Kenton Jarvis, CFO, will take the reigns next year when Mr Lundgren steps aside.
EasyJet chairman Sir Stephen Hester said: “We are sad that Johan will retire from easyJet.
“He has done an excellent job as our chief executive since December 2017, steering the company through the immense challenges of the Covid period, and setting up a clear strategy and strong execution plan.”
Mr Lundgren said: “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.”
The news came as the firm cut its losses for the six months to March 31, as ever, banking on an improved summer.
Pre-tax loss of £350m was reported, down from the £411m reported last year.
Commenting on the results, Mr Lundgren added: "easyJet's targeted growth and focus on productivity has delivered a reduction in winter losses, boosted by our trusted brand and network that we continue to invest in.
"Our two newest bases, Alicante and Birmingham, are achieving passenger numbers well above the network average and we have announced a tenth UK base at London Southend from next March, continuing the growth of our leisure network in the UK where easyJet holidays plays an increasingly important role.
"We are now absolutely focused on another record summer which is expected to deliver strong FY24 earnings growth and are on track to achieve our medium term targets."
FTSE 100
The UK's flagship share index, the FTSE 100, was down seven-points at 8,431 shortly after opening this morning.
Brent crude oil futures were up 0.55%, trading at $83.73 a barrel.
Companies reporting today
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