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Such a wrong decision, has not got the vision to take Easyjet forward, will be way too conservative
Business prevention officer should be his title
As an accountant myself I think this is a questionable decision made by the board, we'll see if he makes any decisions on buying planes or just leasing them for cashflow purposes
I disagree. A quick search found this:
“55% of current FTSE 100 CEOs have backgrounds in finance, accounting or other financial services. Almost a quarter of CEOs (235%) are qualified Chartered Accountants, indicating it pays off to invest time in financial education.”
I think it’s very important that the CEO is totally aware of the P&L and how his decisions could affect the performance/share price.
Well, if you listened to O'Leary a couple of weeks ago putting an accountant in charge is the exceptional thing to do. He puts that down, emphatically, as to why his business has excelled. If you can read the interview and absorb, do so. Please don't condemn me. I am not a fan of O'Leary's antics but the price of his airlines shares have nearly tripled since Oct '22. It is why Lundgren has gone - underperformance. It won't be tolerated, particularly with Hester, ex RBS and RSA, looking down on you along with weary shareholders. 'There won't be any change going forward'. I don't think so. Getting rid of the CEO, for no stated reason with no job lined up, and then more of the same old? No. They have to manage the sudden departure of a CEO carefully and the less said the better at this time. But shareholders can read between the lines.
Easyjet, is now in a much better position with this change and, with a significant profit centre in the growing holidays division, it is now a longer term hold for me rather than a trading stock.
Just Opinion: I think Jo has been fantastic over a very difficult few years. His statement politely swatting wizz’s pathetic offer to one side and the BoD decision to refinance was spot on. He’s also smart enough to leave the business only when the business in great shape. We shall see…
Jo has been fantastic in charge of Ezy
Could not agree more @ Stille 😘
What a comp if one man can desimate a SP O Leary Jo Kenton bring Stelio’s on
Just bought another £5k at a bargain price of 497p. 5% increase by mid next week imv.
Johan was hired to start the holiday business. It’s up and running now, so it’s time for him to move on..
As an ex-employee i can say, that he brought some unpopular changes, hand in hand with the snake which was Belew! A lot of staff won’t forget what they’ve done to us!
I had much higher expectations for the SP.. 2 years after the scamdemic, record occupancy, record sales and here we are.. we still have not taken off! Change is needed.
Who is Kenton Jarvis, easyJet's next CEO?
https://www.reuters.com/business/aerospace-defense/who-is-kenton-jarvis-easyjets-next-ceo-2024-05-16/
Jarvis worked for TUI Europe's largest travel operator, for more than 17 years, starting in 2003 in a finance director role, according to his LinkedIn profile.
He then held various positions, eventually becoming CFO of tourism and CEO of the aviation division.
That experience running a combined travel and airline business has served Jarvis and current CEO Lundgren, another TUI alumni, well as they developed easyJet's profitable holidays business.
Thanks for posting this 2227.
The mere fact Jarvis worked himself up the ranks at Tui gives me confidence. Clearly Jo knew him very well before employing him 3 years ago. Looks like we still got another 8 months of Jo’s standout media briefings. Think my breakeven across all accounts (SIP, ISA and trading) is about 2% down so not best pleased! GLA. No outings for me today!
Keep the faith the brand is strong and will come good SP wise, up day expected across the airlines all have been over sold especially Easy and Jet2