fastjet plc, the low-fare African airline, today announces that Nico Bezuidenhout, the Company's Chief Executive over the last three years, has given notice that he will leave the Company, and Board, at the end of September 2019, to re-join a business of which he was the original founding CEO. Nico will remain with the Company for a period of 3 months, overseeing specific projects, assisting with the handover of responsibilities and ensuring an appropriate transition.
In the interim, Mark Hurst, currently Deputy Group CEO, will take up the position of acting CEO, working closely with Nico for the handover, and thereafter assume the Group CEO role until such time as a permanent replacement CEO is appointed. Mark joined the business in July 2018, was appointed as Deputy Group CEO in January 2019 and has been actively involved in the business over the last 12 months. Mark has significant aviation experience with particular expertise in fleet management, aircraft sourcing, operating and leasing, as well as the development and implementation of operational efficiencies throughout the aviation value chain. He is highly regarded in the African aerospace sector for his operational track record, his ability to drive strategic initiatives in challenging environments and his value and supply chain management.
Rashid Wally, Chairman of fastjet, said:
"On behalf of the Board and myself, I would like to thank Nico for his efforts, dedication and time invested over the last three years in favour of fastjet and its Shareholders. The fastjet of today is a fundamentally different business compared to three years ago and we wish Nico well in his future endeavours.
We are delighted to have someone of Mark's calibre already on the Board. Mark will be focused on continuing to consolidate fastjet's position in its core markets as well as explore other opportunities for growth."
This announcement is released by fastjet plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Kris Jaganah, Chief Financial Officer.