Easyjet CEO flies out in 2025 after seven years

Core Viewpoint - Easyjet's CEO Johan Lundgren will step down at the beginning of 2025 after seven years, with CFO Kenton Jarvis set to take over the role, as the airline navigates a recovery phase post-COVID [1][2][7]. Company Leadership Changes - Johan Lundgren has successfully led Easyjet since December 2017, guiding the airline through significant challenges during the COVID pandemic and establishing a clear strategy [2][6]. - Kenton Jarvis, the current CFO, will be promoted to CEO, expressing enthusiasm for the opportunity to realize Easyjet's potential [4][7]. Financial Performance - Easyjet reported a reduction in net losses for the first half of the fiscal year ending in March, attributed to strong holiday demand despite higher fuel prices and disruptions from geopolitical events [2][8]. - The airline's financial recovery is supported by cost savings and strong demand, with expectations for robust earnings growth in the upcoming summer season [3][8]. Market Reaction - Following the announcement of the leadership change, Easyjet's shares fell by 7.2% to 491.40 pence, as investors assessed the implications of new leadership on the airline's future [5][7].