Easyjet flies in executive from European rail freight giant as its new CFO
Easyjet has announced a new chief financial officer to replace Kenton Jarvis, who was promoted to chief executive earlier in the year.
Jan De Raeymaeker will take up the role from 20 January. The executive currently heads up the Finance, Legal and Purchasing teams at Lineas, the largest private rail freight operator in Europe.
Easyjet had been scouting out candidates after it was announced former chief executive Johan Lundgren would step down in 2025 after seven years in the role. Jarvis, his replacement, will take over the top job on Jan 1.
De Raeymaeker previously held a role of CFO at Brussels Airlines, where he played a key role in transforming the company’s finance function as part of the carrier’s commercial repositioning.
Top of his to do list will be turning around the airline’s share price, which has fallen two per cent this year despite soaring demand for travel across Europe.
The low-cost carrier notched up a 16 per cent increase in third-quarter profit in July, ahead of what amounted to one of the busiest summers of flying on record.
Shares have performed averagely though, amid concern that falling ticket fares could impact the bottom line over the coming months.
“I am excited to be joining easyJet at this important stage in its growth journey and look forward to working with Stephen, Kenton and the management team,” De Raeymaeker said in a statement to markets.
Kenton Jarvis, chief executive Designate, said: “Jan brings with him a deep knowledge of the transport and airline sector, which we believe will be of significant benefit to easyJet going forward, and his financial and commercial acumen will be critical as we continue to build towards the delivery of our medium term targets and our purpose of making low cost travel easy.