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JET2.GB JET2 PLC

1,401.50
17.00 (1.23%)
10 Oct 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type Share ISIN Share Description
JET2 PLC AQSE:JET2.GB Aquis Stock Exchange Ordinary Share GB00B1722W11
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  17.00 1.23% 1,401.50 1,250.00 1,585.00 1,417.50 1,382.50 1,409.50 2,598 15:29:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Jet2 PLC Directorate Change (3413L)

05/09/2023 7:00am

UK Regulatory


JET2 (AQSE:JET2.GB)
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RNS Number : 3413L

Jet2 PLC

05 September 2023

5 September 2023

Jet2 plc

("Jet2", "the Group" or "the Company")

Robin Terrell appointed Independent Non-Executive Chairman

Jet2 plc , the Leisure Travel Group, announces that with effect from today's date, Robin Terrell, the Company's current Senior Independent Non-Executive Director, has been appointed as Non-Executive Chairman.

Following the announcement on 6 July 2023 of Philip Meeson's intention to step down as Executive Chairman, his remaining executive responsibilities have now been fully handed over. In parallel, the Board has collectively and carefully considered the qualities, skillset and experience required of a new Non-Executive Chairman. Of particular importance was the need to ensure a seamless leadership transition together with the requirements to support the Company's continued growth ambitions, uphold its established values of People, Service, Profits and contribute to its long-term success in continuing to deliver a Customer First experience. Furthermore, the Board recognised that practical experience of the business and its culture, plus strong relationships with the senior management team, were key criteria for any appointment to ensure continuity of culture and strategy.

Consequently, it was unanimously agreed that the natural candidate for the role should be Robin Terrell.

Robin was appointed as an Independent Non-Executive Director in April 2020, just as the Covid-19 pandemic was taking hold. Since then, Robin has helped the Company navigate the most tumultuous period in its history and also taken on the expanded remit of Chair of both the Company's Audit & Risk Committee and Remuneration Committee. In November 2022, he was appointed as the Company's Senior Independent Non-Executive Director.

Robin has had a highly successful executive career, originally qualifying as a Chartered Accountant, and going on to lead online and retail businesses including Amazon UK, John Lewis Direct and Tesco UK. His background in online and consumer industries is ideally suited to supporting the executive team as they lead the Company's next phase of development and ensuring the continuation of the Company's laser sharp focus on the customer experience which has been so successfully embedded by Philip Meeson and Chief Executive Officer, Steve Heapy.

Robin will succeed Philip with effect from today with Philip standing down from the Board and moving to the position of Founder & Adviser, allowing the Company to continue to draw on his wisdom and experience from leading the Group over the last four decades as appropriate.

On an interim basis, Robin will remain Chair of the Company's Audit & Risk Committee pending the recruitment of a further Independent Non-Executive Director who has recent and relevant financial experience, at which point he will step down from the Audit & Risk Committee. Simon Breakwell will take on the role of Chair of the Remuneration Committee with effect from today, with Robin remaining a member of that committee.

As a consequence, at the Company's Annual General Meeting on Thursday, 7 September 2023 it is the Company's intention that the resolution to re-appoint Philip Meeson will be withdrawn.

Philip Meeson commented:

"I am delighted that Robin has agreed to become our Non-Executive Chairman. Robin's background across consumer and online industries has already proven to be of significant benefit to the Company and I am absolutely certain he will be a fantastic Chair, providing great support to Steve and Gary. Although I am stepping back from the Board, I'm proud to remain a significant shareholder and will remain a strong supporter of the business. I am confident that, thanks to our outstanding team across the business, the Company will go on to enjoy even greater success in the future".

Robin Terrell, Non-Executive Chairman, commented:

"It is an immense privilege to be asked to chair a company of the calibre of Jet2 plc and I am very much looking forward to this new challenge. Over my three years with the Company, I have seen first-hand the unmatched customer focus, attention to detail and level of engagement from Colleagues around the business and it has been a pleasure to be a member of the Board. Philip can be rightly proud of the fantastic, financially robust business he has developed with the team over the last four decades, leading Jet2.com to become the UK's third largest airline with a fleet of up to 146 of the latest fuel-efficient Airbus A321/A320neo aircraft on order and growing Jet2holidays to become the UK's largest tour operator. I am delighted that we will be able to draw on Philip's wisdom and experience when required and I look forward to his continuing support."

Steve Heapy, Chief Executive Officer, commented:

"As a result of his determination and unstinting commitment to Jet2, Philip has enabled countless UK consumers to enjoy value for money, Customer First holiday experiences across Europe, whilst creating significant employment throughout the aviation and travel sectors. On behalf of all Jet2 Colleagues, I want to pay tribute to his remarkable career and we look forward to his continued support as an adviser. I am very pleased that Robin has agreed to become our Non-Executive Chairman. We have worked well together in the 3 years that Robin has been on the Board, and his new role will be pivotal as we continue our unwavering commitment to our Customers and deliver on our strategy to be the UK's Leading and Best Leisure Travel company."

Enquiries:

 
 Jet2 plc 
  Robin Terrell, Non-Executive Chairman 
  Gary Brown, Group Chief Financial Officer    0113 239 7692 
 Cenkos Securities plc 
  Nominated Adviser 
  Katy Birkin / Camilla Hume                   020 7397 8900 
 Canaccord Genuity 
  Joint Broker 
  Adam James                                   020 7523 8000 
 Jefferies International Limited 
  Joint Broker 
  Ed Matthews 
  Becky Lane                                   020 7029 8000 
 Buchanan 
  Financial PR 
  Richard Oldworth                             020 7466 5000 
 

Certain information contained in this announcement would have been deemed inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time, until the release of this announcement.

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END

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(END) Dow Jones Newswires

September 05, 2023 02:00 ET (06:00 GMT)

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