REG - Jet2 PLC - Directorate Change

Jet2Announcement

05/09/2023 07:00

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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                                    0113 239 7692

 Robin Terrell, Non-Executive Chairman

 Gary Brown, Group Chief Financial Officer

 Cenkos Securities plc                       020 7397 8900

 Nominated Adviser

 Katy Birkin / Camilla Hume
 Canaccord Genuity                           020 7523 8000

 Joint Broker

 Adam James
 Jefferies International Limited             020 7029 8000

 Joint Broker

 Ed Matthews

 Becky Lane
 Buchanan                                    020 7466 5000

 Financial PR

 Richard Oldworth

 

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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