(Alliance News) - easyJet PLC on Monday said it has named Stephen Hester as its new chair, replacing John Barton who will round off a near nine-year stint in the role in December.
Hester, who takes over the role on December 1, brings with him "35 years of wide-ranging experience", the carrier said. Hester was chief executive of RSA Insurance Group PLC between February 2014 and this past May, before RSA was acquired by a two-headed consortium composed of Canada's Intact and Scandinavian insurer Tryg AS.
Hester also served as CEO of state-backed lender Royal Bank of Scotland Group PLC, now NatWest Group PLC, during the financial crisis, replacing Fred Goodwin who led the bank to the brink of collapse in 2008.
In addition, easyJet's new chair designate as held "senior executive roles" Credit Suisse First Boston, a former investment banking arm of Credit Suisse AG. Hester currently is senior independent director of British Gas-owner Centrica PLC.
Hester commented: "As a long-standing admirer of easyJet, and from my own experience as a customer, I am very excited to be joining the airline and look forward to playing my part in driving its continued success."
Before taking on the role of chair at the start of December, Hester joins easyJet's board as a non-executive director next week Wednesday.
Sky News in May reported the FTSE 250-listed company had engaged recruitment firm Lygon Group to find a successor to Non-Executive Chair Barton.
At the recent AGM, Barton and Chief Executive Officer Johan Lundgren were only barely re-elected, with 43% of shareholders opposed. This followed a campaign against them by founder and largest shareholder Stelios Haji-Ioannou, who was unhappy about a contract to buy aircraft from Airbus SE.
Barton also is chair of retailer Ted Baker PLC, a role he has held since the start of July 2020.
easyJet shares were 1.9% higher at 813.80 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
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