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* Barton to step down after nine years as chairman
* Stephen Hester to succeed Barton from December 1
* Hester widely known for turnaround of RBS after '08 crisis
(Adds details, shares move)
By Pushkala Aripaka
Aug 23 (Reuters) - EasyJet on Monday named former
Royal Bank of Scotland boss Stephen Hester to succeed John
Barton as chairman, as the budget airline seeks experienced
leadership to help it navigate post-pandemic recovery.
Hester, 60, has more than three decades of experience in
several industries, most recently serving as the chief executive
of RSA Insurance. He was widely praised https://www.reuters.com/article/us-rbs-hester/rbs-boss-hester-to-step-down-this-year-idUSBRE95B0UY20130612
for restructuring RBS in the aftermath of its state bailout
during the 2008 financial crisis.
"I am very much looking forward to working with Stephen
(Hester) at this important time in our history, as we continue
to ... take advantage of the many opportunities that lie ahead
following the pandemic," easyJet Chief Executive Johan Lundgren
said in a statement.
The British airline said last month it planned to fly 60% of
its pre-pandemic capacity between July and September, compared
with 17% of 2019 levels in the previous quarter, after it shed
staff, cut its fleet and took on new debt to survive the crisis.
Hester, who will join the airline as a director in
September, said he was "very excited" to be taking on the role
of chairman from Dec. 1 after Barton steps down after nine
years.
Shares of the London-listed company rose as much as 3% to
821.8 pence in morning trade following the announcement. The
stock lost more than 40% of its value last year when COVID-19
hammered the aerospace industry.
EasyJet, which had posted a slightly smaller loss of 318.3
million pounds ($434.6 million) for the three months to June 30,
has cautioned of limited visibility and ongoing uncertainty and
did not provide guidance for the rest of the year.
Hester, a former investment banker and gardening enthusiast
https://www.reuters.com/article/rbs-hester-idUSLQ37860120090226,
will be paid 314,568 pounds a year, including remuneration for
his duties as a non-executive director, the company said.
($1 = 0.7324 pounds)
(Reporting by Pushkala Aripaka in Bengaluru; Editing by
Uttaresh.V, Jan Harvey and Mike Harrison)
