easyJet share price: Airline’s execs vying for top job

Internal candidates are vying for the top job at easyJet (LON:EZJ), The Sunday Times has reported.

The news comes as Carolyn McCall prepares to step down from the budget carrier at the end of the year, to take the CEO position at blue-chip broadcaster ITV (LON:ITV).

easyJet’s share price has been subdued in London this morning, having shed 0.58 percent to 1,209.00p as of 08:49 BST, slightly outperforming the broader UK market, with the benchmark FTSE 100 index having tumbled 1.09 percent to 7,320.62 points. The airline’s shares have added more than seven percent to their value over the past year, and are up by a little over two percent in the year-to-date.

The Sunday Times reported over the weekend that easyJet’s chief operating officer, Chris Browne, previously at Tui Travel, was thought to be a frontrunner for the chief executive position at the airline, as was Peter Duffy, its chief commercial officer.

City sources further indicated to the newspaper that a dark-horse contender could emerge from the boardroom, namely Andy Martin, a former chief operating officer of Compass, who is one of the budget carrier’s non-executive directors. Other potential candidates reportedly include Royal Mail Group’s (LON:RMG) boss Moya Greene who joined easyJet’s board last month.

easyJet updated investors on its third-quarter performance last month, delivering a rise in revenue and lifting its profit outlook.

The 23 analysts offering 12-month price targets for easyJet for the Financial Times have a median target of 1,300.00p on the shares, with a high estimate of 1,600.00p and a low estimate of 1,050.00p. As of August 25, the consensus forecast amongst 26 polled investment analysts covering the FTSE 100 group advises investors to hold their position in the company.