Former RBS CEO Hester takes chair at easyJet
Stephen Hester: new role
Former Royal Bank of Scotland chief executive Stephen Hester is to become chairman of airline easyJet.
Mr Hester will join the board as a non-executive director on 1 September and will succeed John Barton as chairman on 1 December on an annual pay package of £314,568.
He will receive an annual fee as a non-executive director for the period from 1 September 2021 to 30 November 2021 of £62,914 pro-rata.
Mr Hester succeeded Fred Goodwin as chief executive of Royal Bank of Scotland in 2008 until 2013 and his focus was on turning around the bank from its near-collapse. He left after clashing with the Treasury over strategy.
He served as chief executive of RSA Insurance Group from February 2014 to May 2021 when it was sold to a Danish-Canadian consortium.
He was also chief executive of British Land and chief operating officer of Abbey National as well as holding a number of senior executive roles at Credit Suisse First Boston in London and New York.
He currently serves as a senior independent director of Centrica, having previously held a senior non-executive position as deputy chairman of Northern Rock.
He owns a 400-acre estate in Oxfordshire and is thought to have received about £16 million from the sale of his shares in RSA when the insurer was acquired.