Easyjet chief Harrison to leave next June

9th Dec 2009 07:07

Easyjet chief executive Andy Harrison is to stand down from the no-frills airline next June. In a statement, Easyjet said Harrison had indicated his desire to leave the company in order to seek new challenges, but did not indicate what he planned to do next. The board is looking for a successor.Harrison's decision means that five of the airline's senior management have departed over the past year after the board faced fierce criticism from founder and 26.8% stakeholder Stelios Haji-Iannou over plans to expand the airline.Sir Stelios, who is still a director, at one point last year refused to sign off the airline's accounts and advocated conserving cash during the current tough times for the airline business. EasyJet has 109 Airbus jets on order for delivery by 2012, a 50% increase in its fleet size. Harrison joined Easyjet as chief executive on 1 December 2005 having previously been at Lex Service as chief executive.The airline also said that Sir Michael Rake will take over from Sir David Michels as the group's chairman with effect from next January, when Sir David will resume the role of Senior Independent Director. Sir Michael joined the Board of easyJet in June as Deputy Chairman and Senior Independent Director. "I am delighted to be taking over the chairmanship of a company that has achieved so much since it started fourteen years ago. Andy Harrison has done a great job over the past four years and under his leadership, easyJet has developed into a truly pan-European airline operating Europe's leading air transport network," he said.The airline is also still looking for a chief financial officer after Jeff Carr resigned in May.Last month, the company reported full-year pre-tax profit halved due to higher fuel costs. For the year ended 30 September 2009 profit slumped to £54.7m from 110.2m the year before. Total revenue during the period increased 12.9% to £2.7bn. But boss pointed out at the time that easyJet was 'one of the very few European airlines to make a profit during the last 12 recessionary months.'