JET2 HAS announced a replacement for long-time chief and founder Philip Meeson, the entrepreneur who transformed the company into the UK's leading package holiday airline.

Senior independent non-executive director Robin Terrell is stepping in, following an announcement in July that 75-year-old Meeson was to depart after nearly 40 years at the helm.

Terrell has been at Jet2 as director since April 2020 and previously held senior roles at Amazon and John Lewis.

When Meezon's departure was announced in July there was a 10 per cent slump in the company's shares as investors fretted over the firm's future.

Terrell's appointment was welcomed by analysts, with Jefferies saying the move would "support sentiment" among investors due to Terrell's "extensive experience".

However, Jet2's share price closed slightly down yesterday.

(c) 2023 City A.M., source Newspaper