10 June 2013
("fastjet" or the "Company")
Chairman Resignation and Appointment of Interim Chairman
The Board of fastjet announces that David Lenigas has decided to step down as Executive Chairman with immediate effect and will be replaced by Chief Executive Officer Ed Winter on an interim basis, until a permanent successor is found. A comprehensive search process led by the Board of fastjet is now underway for a Non-Executive Chairman and a further announcement will be made in due course.
Commenting on today's news, Ed Winter said: "I would like to take this opportunity to thank David for his significant contribution since the launch of fastjet last year and wish him the very best for the future. David has stepped down in order to concentrate on his other business ventures and we are very grateful for the invaluable advice and dedication he has given to the company in the past year. To ensure continuity in the business, I will be taking on the Chairmanship helm until we can find a permanent successor."
David Lenigas said: "I would like the shareholders of fastjet to offer Ed Winter their full support as the Company transitions from a concept to a pan-African reality. Ed has an impeccable record in the aviation industry and his teams have achieved remarkable progress since fastjet started flying as a brand in November last year."
""I see a very bright future for a low-cost airline on the continent of Africa. fastjet has the right model to succeed and it almost goes without saying that I wish fastjet all success. I believe that the company has one of the finest airline management teams anywhere in the world. Their considerable early achievements in route development, capacity utilisation, customer satisfaction and community relations pay testament to this. This is a time of transition for fastjet both operationally and in terms of shareholder structure as its major shareholder, Lonrho, is likely to have a new owner in the coming weeks as a result of the current offer for Lonrho. It therefore seems to be a good time for me to step down to pursue my other interests and handover the reins as fastjet moves to the next stage of growth.""
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NOTES TO EDITORS
About fastjet plc
fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand commenced in Tanzania in November 2012. The airline has introduced Airbus A319s into its fleet and by adhering to international standards of safety, quality, security and reliability, fastjet has brought a new flying experience to the African market at unprecedented low prices. fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.
fastjet plc is quoted on the London Stock Exchange's AIM market.
For more information see www.fastjet.com
Posted on 10th June 2013