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Fastjet CEO To Resign; Chairman To Act In Executive Capacity

Mon, 14th Mar 2016 16:34

LONDON (Alliance News) - Fastjet PLC said on Monday that Chief Executive Officer Ed Winter has decided to step down, with Non-Executive Chairman Colin Child to act in an executive capacity until a new chief executive joins.

The African low-cost airline said that headhunters have been appointed to search for Winter's replacement. His resignation comes one week after Fastjet issued a profit warning for 2016, following what it called "prolonged" challenges in the African aviation industry.

On Winter's resignation, Child will chair the executive committee and will be supported by Chief Commercial Officer Richard Bodin, who will assume the role of chief operating officer. Both Child and Bodin will revert to their existing roles once a new chief executive is appointed.

Fastjet also announced its General Counsel Krista Bates was resigning as a director and stepping down from the board, effective from Monday.

Shares in Fastjet were down 1.2% at 36.08 pence on Monday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland