EasyJet’s chief executive, Johan Lundgren, is set to step down at the beginning of next year after a seven-year tenure at the helm of the budget airline.
The airline has announced that its chief financial officer, Kenton Jarvis, will succeed Lundgren, with the official handover scheduled for 1 January 2025.
Lundgren will remain with the company until mid-May to ensure a smooth transition as part of the airline’s “orderly succession plan”.
Reflecting on Lundgren’s departure, EasyJet chairman Stephen Hester said, “We are sad that Johan will retire from EasyJet. He has done an excellent job as our CEO since December 2017, steering the company through the immense challenges of the COVID period, and setting up a clear strategy and strong execution plan towards its ambition of ‘being Europe’s most loved airline, winning for customers, shareholders and our people’.
“There is good positive momentum and Johan will be with us to close out the current year, which we hope will be another one of strong progress.”
During a media call, Lundgren mentioned he has no immediate plans post-EasyJet, and confirmed he has no intention of joining another airline. “No, I’m not going to do anything else [in] aviation, I can promise you that,” he stated.
Kenton Jarvis, who has served as EasyJet’s CFO for three years, will receive a notable pay rise upon taking the CEO position.
His annual salary will increase from £542,000 to £800,000, slightly more than the £770,000 Lundgren earned in 2023.
Jarvis’s total compensation will follow the same structure as Lundgren’s, which amounted to £2.2 million in 2023, including a £1.3 million bonus and additional benefits.
Jarvis joined EasyJet from Tui, where he held various roles, including chief executive of the airline division. His previous experience includes positions at PwC, Airtours Holidays, and finance roles at Adidas.
The incoming CEO is not expected to make significant changes to the airline’s current strategy.
