easyJet confirmed today that Sir David Michels will step down as the Group's Chairman with effect from 1 January 2010, at which point Sir Michael Rake, who joined the Board of easyJet plc in June 2009, will take over.

Andy Harrison, Chief Executive Officer, has indicated his desire to leave the Company on 30 June 2010 in order to seek new challenges. His replacement has not yet been announced.

According to Daily Mail, Andy Harrison has fought with easyJet's founder Sir Stelios Haji-Ioannou over strategy, with Harrison favouring more aggressive passenger growth targets and Stelios after maintaining the dividend.

Andy Harrison said:

"easyJet is a great company with a strong management team and I am sure under Mike's Chairmanship, easyJet will continue to grow from strength to strength. I am looking forward to being part of the process of selecting my successor and am committed to ensuring a smooth transition. I have loved being a part of easyJet's success but am now looking forward to moving on to a new challenge."

Sir Michael Rake said:

"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. easyJet has a very strong senior management team and I look forward to being part of the continuing development of the business."

Sir David Michels said:

"easyJet has been the best performing European airline through the recession and we thank Andy for his considerable contribution during this period and his leadership of the Company over the last four years. The Board of easyJet is confident that easyJet is well positioned for the future and is delighted to confirm Mike Rake's appointment as Chairman."

Source: Reuters

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