EasyJet chief Johan Lundgren to step down next year

EasyJet’s CE Johan Lundgren is to leave the low-cost airline after seven years in the top job and will be replaced by chief financial officer Kenton Jarvis. Lundgren, who started his career as a tour guide and joined easyJet in 2017, will leave the company early next year. He steered the airline through the pandemic crisis and has since sought to capitalise on the rebound in travel. Analysts said picking Jarvis, who joined easyJet in 2021 and previously ran travel company Tui’s airline business, as Lundgren’s successor signalled that the carrier would continue with its current strategy. Jarvis said he has “100% bought into” the airline’s current strategy, and to that extent is a “continuity” hire. From its main base at London Gatwick, Lundgren has focused the airline on lucrative routes to primary airports across Europe. But like many airlines, easyJet’s management has struggled to convince investors to fully back its vision despite the current travel boom. The airline’s shares are languishing 60% below pre-pandemic levels. The airline has successfully competed with national flag carriers such as British Airways, but some analysts and investors have questioned how much the business can grow in a mature market where capacity at many airports is constrained.<br/>