EasyJet chief Johan Lundgren to step down next year

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EasyJet’s chief executive Johan Lundgren is to leave the low-cost airline early next year and will be replaced by chief financial officer Kenton Jarvis.

Lundgren, who will have been in the top job seven years when he exits, steered the airline through the pandemic crisis, and in October outlined ambitious growth plans with an order for more than 150 aircraft.

But like many airlines, easyJet’s management has struggled to convince investors to fully back its vision despite the current travel boom, and the airline’s shares are languishing 60 per cent below pre-pandemic levels.

Jarvis joined easyJet in 2021, and previously ran travel company Tui’s airline business.

The leadership changes came as easyJet on Thursday reported reduced winter losses and said it was “focused on another record summer”.