EasyJet CEO Johan Lundgren to Step Down at Beginning of 2025

ByTravelling For Business

May 16, 2024
EasyJet's Chief Executive, Johan Lundgren, will step down at the beginning of next year after seven years at the helm of the budget airline.

EasyJet’s Chief Executive, Johan Lundgren, will step down at the beginning of next year after seven years at the helm of the budget airline.

Lundgren will be succeeded by Kenton Jarvis, the current Chief Financial Officer, effective 1 January 2025. Lundgren will remain with the company until mid-May to ensure a smooth transition.

Lundgren joined EasyJet at the end of 2017 from the rival travel firm Tui, bringing over 30 years of experience in the travel industry. His leadership faced significant challenges, particularly during the pandemic when lockdowns severely impacted the airline industry, leading to staff layoffs and later rehiring as air travel started to recover.

Stephen Hester, EasyJet’s Chair, praised Lundgren’s contributions: “We are sad that Johan will retire from EasyJet. He has done an excellent job as our CEO since December 2017; steering the company through the immense challenges of the Covid period, and setting up a clear strategy and strong execution plan towards its ambition of ‘being Europe’s most loved airline, winning for customers, shareholders and our people’.”

Lundgren, speaking to journalists, confirmed he has no plans to join another airline after leaving EasyJet: “No, I’m not going to do anything else [in] aviation, I can promise you that.”

Kenton Jarvis, who will take over as CEO, has been EasyJet’s CFO for three years and has extensive experience in the travel industry, having held several roles at Tui, including CEO of its airline division. His annual salary will increase from £542,000 to £800,000, compared to the £770,000 Lundgren received in 2023. Jarvis’s total compensation will be structured similarly to Lundgren’s, with potential payouts matching those of his predecessor, who earned £2.2 million in 2023.

Jarvis expressed his commitment to continuing EasyJet’s current strategy: “I’ve been on the board of EasyJet for over three years now and have been an active part of co-creating … the current strategy. So I’m 100% committed to the current strategy and also very confident in our ability to deliver on the medium-term targets.”

The announcement of the leadership change coincided with EasyJet reporting a pre-tax loss of £347 million for the six months ending 31 March, an improvement from the £415 million loss a year earlier. Lundgren commented on the financial results: “We have continued to focus on productivity, on growth, and we are pleased to see that we have reduced winter losses by £61 million year on year. This result was despite the conflict in the Middle East, which increased fuel costs and impacted demand to the region.”

As EasyJet prepares for this significant leadership transition, the airline aims to maintain its strategic course and continue its recovery and growth trajectory post-pandemic.