Yahoo Finance EasyJet C-suite due for shakeup amid recovery hopes
EasyJet (EZJ.L) is preparing for a shake-up of its C-suite as its chairman John Barton is stepping down.
Headhunters have been appointed to find a successor for Barton, who has been in the role for about eight years. The budget airline said in a statement yesterday he would step down in May 2022 once he has completed nine years in the post.
The move, first reported by Sky News, comes ahead of hopes of a revival in the international travel market, as England gears up to allow Brits to go on holiday to "green list" destinations without having to quarantine on return.
The broadcaster said the search for a successor is being handled by executive recruiter Lygon Group and that the headhunters had begun approaching potential candidates in recent weeks.
EasyJet cited nine years as being the maximum length of time for a chairman to serve with regards to following best practices for corporate governance.
It has been a tough year for travel companies with prolonged lockdowns and uncertainties meaning many have had to lean heavily on government support schemes.
From Monday, however, glimmers of hope are returning to the market with Britons given the go-ahead to book holidays to a handful of destinations deemed low enough risk.
Read more: England's reopening roadmap to face final easing decision on 14 June
So far, there are only 12 countries marked "green," including Portugal, Iceland and Australia. The list will be reviewed and possibly more countries added next month.
The budget carrier is due to report results for the six months to the end of March on Thursday with a guide to investors to expect a loss of between £690m ($973m) and £730m.
Yahoo Finance has reached out to easyJet for comment.
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