Easyjet PLC — Board/Management Information 2013

Jan 28, 2013

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RNS Number : 4556W

easyJet PLC

28 January 2013

easyJet announces board change

The Board of easyJet announces that Sir Mike Rake has informed the Board of his intention to step down as a non-executive director and as Chairman of easyJet plc in Summer 2013.

Sir Mike will still seek re-election at the Annual General Meeting on 21 February and has agreed to remain in his post in order to ensure a smooth hand over and provide the Board time to identify a suitable replacement.

The Board's Nomination Committee has commenced a process to select and appoint a successor, reviewing both internal and external candidates.

Charles Gurassa, Deputy Chairman and Senior Independent Director, said:

"On behalf of the Board I would like to thank Sir Mike for the huge contribution he has made to easyJet over the past three years.

"During this time he has overseen a more than doubling in the value of the company through the successful delivery of easyJet's strategy of sustainable growth and returns, refreshed the Board, appointed a new Chief Executive and Finance Director, introduced dividend payments and led the negotiation of a new brand licence agreement.

"All our stakeholders, passengers, shareholders and employees have benefited from the excellent performance of easyJet under his Chairmanship through this period. We wish him every success in the future."

Sir Mike Rake, Chairman of easyJet, said:

"In advance of the forthcoming AGM I wanted to make my position clear.  easyJet has by any definition enjoyed a period of success and profitable growth in the last three years.  As this takes the airline to the threshold of entry to the FTSE 100 it is the right time for me to stand down.

"It has been a tremendous experience to chair easyJet over the last three years.  easyJet is a dynamic and successful company in a vitally important sector for the European economy.

"Carolyn McCall and her management team have developed and implemented the right strategy for the airline which is already bearing fruit with record profits, a healthy share price and strong dividends.

"The airline is now well positioned to continue to deliver profitable growth and returns for all its shareholders."

ENDS

Enquiries should be directed to:

easyJet plc

Investor:

Rachel Kentleton, Investor Relations                                            +44 (0) 7961 754 468

Media:

Paul Moore, Communications                                                     +44 (0) 7860 794444

This information is provided by RNS

The company news service from the London Stock Exchange

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