logo-loader
viewFastjet PLC

Fastjet descends as CEO takes off

The low-cost carrier said Nico Bezuidenhout would leave the firm at the end of September

fastjet aircraft
Deputy CEO Mark Hurst will now step into the role until a permanent successor is found

Shares in troubled airline Fastjet PLC (LON:FJET) descended further on Tuesday on news that its long-serving chief executive Nico Bezuidenhout will be leaving the company at the end of September.

The low-cost African carrier said Bezuidenhout would leave the firm to re-join a business of which he was the original founding CEO, while deputy CEO Mark Hurst would step into the position until a permanent successor was found.

READ: Fastjet expecting to squeeze out small underlying profit this year

Rashid Wally, Fastjet’s chairman, said Hurst would be focusing on consolidating the company’s position in its core markets as well as exploring “other opportunities for growth”.

However, the news of the CEO’s departure seemed to have sent some investors scrambling for the parachutes, with the shares falling 6.4% to 1.5p in lunchtime trading.

Quick facts: Fastjet PLC

Price: 0.151 GBX

AIM:FJET
Market: AIM
Market Cap: £5.74 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Genprex sees newly licensed diabetes gene therapy as an...

Genprex Inc (NASDAQ:GNPX) CEO Rodney Varner tells Proactive the Texas-based biotech has signed a licensing agreement with the University of Pittsburgh for a diabetes gene therapy that could have the potential to treat Type 1 and Type 2 diabetes. Varner says the newly licensed diabetes gene...

2 days, 18 hours ago

2 min read