Webster to leave easy

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Well long serving Ray Webster is leaving EZY this year :-
LONDON (Reuters) - Budget airline easyJet said on Monday its chief executive would stand down once a successor had been found and that Stelios Haji-Ioannou, its founder and major shareholder, was rejoining the board. Stelios, who will be a non-executive director with immediate effect, said in a statement he had "no current intentions to take the company private." "I would like to stress that my role will be in a purely non-executive capacity, given my business commitments with the 14 other easy-branded businesses," he said. EasyJet (EZJ.L: Quote, Profile, Research) said its CEO, Ray Webster, had been due to retire in 2006 but decided now was the right time for the company to identify and appoint a successor. "On the appointment of his successor, Ray will resign from the board and, up until November 30, 2006, will report to the chairman, carrying out specified tasks for the company, which will draw on his expertise and skills," easyJet said. At 1:37 p.m., easyJet shares were down 1.4 percent at 242 pence to value the company at 970 million pounds. Last week, easyJet shares hit one-year highs at 252-1/2 pence after strong April passenger numbers and a broker upgrade offset lingering concerns about low fares and fuel costs. EasyJet has expanded aggressively in the past 12 months on short-haul European routes but remains under pressure from falling fares amid stiff competition and high fuel costs.
Got it off the Reuters site :- http://today.reuters.co.uk/Investing/FinanceArticle.aspx?type=stocksNews&storyID=2005-05-16T124111Z_01_NOA644267_RTRUKOC_0_AIRLINES-EASYJET.xml So Stelios back on the board, good to see him back!
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