Directorate changes - 14 March 2016

fastjet Plc
("fastjet" or the “Company”)
14 March 2016
Board Changes

fastjet Plc today announces that Ed Winter has decided to step down as the Company’s Chief Executive Officer with effect from 18 March 2016 and will resign as a Director of the Company on the same date. Krista Bates, General Counsel for fastjet, has also decided to step down from the Board and resigned as a Director today, 14 March 2016.

Following Mr Winter's resignation, Non-Executive Chairman Colin Child will be appointed Executive Chairman until a new Chief Executive joins the Board. Mr Child, will chair fastjet’s Executive Committee, and will be supported by Chief Commercial Officer Richard Bodin who will assume the role of Chief Operating Officer on a similar temporary basis. The other members of the Executive Committee are Chief Financial Officer, Lisa Mitchell and Group Operations Director, Dave Thomas. Both Mr Child and Mr Bodin will revert to their existing roles following the appointment of the new Chief Executive.

As announced in January, headhunters have been appointed to search for a new Chief Executive Officer and assist the Board’s Nomination Committee to identify suitable candidates. A further announcement will be made in due course.

Following these Board changes, the Board does not now consider it necessary to convene a general meeting as requisitioned by EasyGroup Holdings Ltd on 29 February 2016.

Commenting on the announcement, Colin Child said: “Over the past four years, Ed has made very significant and sustained progress towards fastjet’s goal of becoming Africa’s first true low-cost pan-African airline. He has successfully opened hubs in Tanzania and Zimbabwe, providing multiple domestic services, and has won international rights to fly from Tanzania to Kenya, South Africa, Zambia, Zimbabwe, Uganda, and from Zimbabwe into South Africa.

“Krista has played a very important role as General Counsel and has been instrumental in negotiating and securing flying rights across East and Southern Africa and dealing with the very significant regulatory challenges of operating an airline in Africa.

“I would like to thank them personally, and on behalf of the Company, for the part they have played in fastjet’s development.  They leave with our very best wishes.”

Ed Winter said: "I feel privileged to have had this unique and exciting opportunity to lead an incredible team in changing the face of African aviation. We have been pioneers in bringing a true low-cost airline model to sub-Saharan Africa.

 

For more information, contact:

fastjet Plc

Tel: +44 (0) 20 3651 6307

Colin Child, Executive Chairman

Lisa Mitchell, Chief Financial Officer

 

UK media - Citigate Dewe Rogerson

Tel: +44 (0) 20 7638 9571

Angharad Couch

 

Eleni Menikou

 

Nick Hayns

 

South African media - Tribeca Public Relations

Tel: +27 (0) 11 208 5500

Cian Mac Eochaidh

 

Kelly Webster

 

For investor enquiries please contact:

 

Liberum Capital Limited - Nominated Adviser and Joint Broker

Tel: +44 (0) 20 3100 2222              

Clayton Bush

 

Christopher Britton

 

W.H. Ireland Ltd.- Joint Broker

 Tel: +44 (0) 20 7220 1666

James Joyce

 

Mark Leonard

 

 

NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. fastjet Zimbabwe was successfully launched in October 2015. 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. Utilising its fleet of Airbus A319s, 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.

The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014’s Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet Plc is quoted on the London Stock Exchange's AIM Market.

 

For more information see www.fastjet.com

Posted on 14th March 2016