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easyJet announces Board change, carrier 'bearing fruit with record profits'

28-Jan-2013 1:38 PM

easyJet announced (27-Jan-2013) 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-Feb-2013 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. Sir Mike Rake said: "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.... 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." [more - original PR]