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    EZJ   GB00B7KR2P84

EASYJET PLC

(EZJ)
  Report
Delayed Quote. Delayed London Stock Exchange - 12/03 11:35:16 am
528.2 GBX   -0.56%
12/02Today on Wall Street: Volatility remains high
12/02EASYJET : UBS remains its Buy rating
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12/02ANALYST RECOMMENDATIONS : American Tower, EasyJet, IBM, Salesforce, Twitter...
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easyJet : Former RBS and RSA boss Stephen Hester to be next Easyjet chairman

08/23/2021 | 03:50am EST

City heavyweight Stephen Hester, who led RBS and insurer RSA, has been named the next chairman of budget airline Easyjet.

Easyjet this morning named Hester as its director and chair designate.

Hester will join the Board as a non-executive director on 1 September and then he will succeed John Barton as the airline’s chair on 1 December.

The City veteran was CEO of RSA Insurance from February 2014 and left the post in May.

Before that he had a colourful stint as chief exec of Royal Bank of Scotland (now NatWest), arriving just as it was bailed out by the taxpayer to the tune of £45bn in the aftermath of the Global Financial Crisis.

At RBS Hester’s task was to steer the bank through the fallout to the financial crisis, which hit RBS harder than almost any other bank in the country and led to it being mostly owned by the state.

Since the financial crisis, RBS Group – now called NatWest – has been slimming down from its position as one of the world’s biggest banks.

It was a process put in place by Hester and continued by his successors after he stood down in 2013 following several high-profile rows with politicians over his bonus and RBS’s lending to small business.

He later joined RSA Insurance, another company which needed help turning around.

But in May RSA was sold to be broken up by one Danish and one Canadian buyer – a deal Mr Hester in part helped negotiate while recovering from surgery in hospital.

Hester said he was a long-standing admirer of the airline.

“I see so many opportunities for this iconic brand in the coming years, all underpinned by its proven business model, unrivalled network and loyal customer base. I am convinced we can be winners in the European airline industry of the future, serving customers well and driving attractive shareholder value. I can’t wait to join the Easyjet team. “

Shares in Easyjet opened higher, up 1.65 per cent to 812p this morning, on the news.

The post Flying high: Former RBS and RSA boss Stephen Hester to be next Easyjet chairman appeared first on CityAM.

© City AM, source Newspaper

Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC -0.56% 528.2 Delayed Quote.-24.41%
RSA INSURANCE GROUP 0.00%End-of-day quote.1.00%
All news about EASYJET PLC
12/02Today on Wall Street: Volatility remains high
12/02EASYJET : UBS remains its Buy rating
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12/02ANALYST RECOMMENDATIONS : American Tower, EasyJet, IBM, Salesforce, Twitter...
12/02EASYJET : Gets a Buy rating from Berenberg
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12/01EASYJET : Buy rating from Bernstein
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12/01EASYJET : Receives a Buy rating from Deutsche Bank
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12/01EASYJET : Barclays sticks Neutral
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12/01Easyjet losses swell as variant fuels worries
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11/30FTSE 100 marks worst month in over a year on Omicron hit
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More news
Analyst Recommendations on EASYJET PLC
More recommendations
Financials
Sales 2021 1 443 M 1 910 M 1 910 M
Net income 2021 -905 M -1 197 M -1 197 M
Net Debt 2021 974 M 1 288 M 1 288 M
P/E ratio 2021 -3,05x
Yield 2021 -
Capitalization 3 993 M 5 279 M 5 283 M
EV / Sales 2021 3,44x
EV / Sales 2022 0,96x
Nbr of Employees 14 000
Free-Float 84,3%
Chart EASYJET PLC
Duration : Period :
easyJet plc Technical Analysis Chart | EZJ | GB00B7KR2P84 | MarketScreener
Technical analysis trends EASYJET PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Last Close Price 528,20 GBX
Average target price 747,80 GBX
Spread / Average Target 41,6%
EPS Revisions
Managers and Directors
Johan Peter Lundgren Chief Executive Officer & Director
Kenton Jarvis Chief Financial Officer
Robert John Orr Barton Non-Executive Chairman
Stephen Alan Michael Hester Chairman-Designate
Sam Kini Chief Data & Information Officer
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