Next exec to chair easyJet as Mike Rake steps down
Budget airline easyJet has confirmed rumours that Chairman Sir Mike Rake is to stand down from the board in a couple of weeks' time and will be replaced by the Chairman of High Street chain Next, John Barton.
Budget airline easyJet has confirmed rumours that Chairman Sir Mike Rake is to stand down from the board in a couple of weeks' time and will be replaced by the Chairman of High Street chain Next, John Barton.
Rake, who was appointed as Deputy Chairman in June 2009, informed the board of his intention to leave back in January. The company, which joined the FTSE 100 last month, said that he as "steered" the business through three years of "success and profitable growth".
He will leave the company on May 1st.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In a statement on Wednesday, Rake said: "It has been a great experience to chair easyJet for the last three years and most particularly to see the strong management team and board in place, implementing a strategy that is clearly working.John Barton will make an excellent chairman for the next stage of easyJet's development."
Barton, who is also the Chairman of insurance group Catlin, has chaired major quoted companies for over 16 years and has "sound financial expertise and great understanding of high profile, competitive consumer markets from his time at Next," according to David Bennett, easyJet's Chairman of the nominations committee.
"We are extremely pleased to have recruited a new chairman of John Barton's calibre. John brings a wealth of plc board experience and valuable commercial expertise to easyJet," Bennett said.
Barton said that he looks forward to taking up the new rolls and aims to "ensure that the management team of easyJet can continue to deliver profitable growth and market leading returns".
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Government launches full review of parental leave and pay – what could it mean for you?
The government wants parental leave to be fairer - will its shake-up fix the widespread problem for families?
-
Nationwide: House prices see biggest monthly fall in over two years
UK house prices dropped by 0.8% in June, according to Nationwide. We reveal the top-performing and worst-performing regions