EasyJet share price: CEO asks for pay cut to match predecessor

EasyJet share price: CEO asks for pay cut to match predecessor

EasyJet share price: CEO asks for pay cut to match predecessor

His salary will now be cut to £706,000 to match McCall's final annual salary.

easyJet chief executive Johan Lundgren has taken a voluntary pay cut to match the salary of his predecessor Carolyn McCall.

Mr Lundgren said his airline was "absolutely committed" to giving equal pay to men and women.

The former TUI Group executive made the decision to request a salary reduction amid a number of high-profile news stories in the United Kingdom regarding gender pay imbalance.

EasyJet said his remuneration package of bonuses and incentive payments is "identical" to the one McCall received. The former CEO, Carolyn McCall, left the company after eight years with a salary of £706,000 (approximately $990,730) - a gap of almost five percent.

EasyJet today revealed a huge 51.7pc gender pay gap, although it claimed this was more to do with the "massive gender imbalance" in the aviation industry's pilot community.

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Mr Lundgren, who joined the low-priced airline from tour operator Tui previous year, will cut his pay to £706,000 from the £740,000 level on which he was hired. Out of the 704 employers who had shared pay figures so far, easyJet had the third-largest mean gender pay gap.

Only 4% of commercial pilots worldwide are female.

But the company said: "We recognize we need to do better".

"I want us not just to hit our target that 20 percent of our new pilots should be female by 2020, but to go further than this in the future", Lundgren said in the same statement. That is why three years ago easyJet launched our Amy Johnson Initiative to encourage more women to enter the pilot profession.

McCall had been credited with transforming the airline and was making £706,000 when she left the carrier last November after eight years in the job, so that's a cut of almost five per cent and A$60,000. The airline, 94 percent of whose pilots are male, has set a target that 20 percent of its new pilots should be female by the end of the decade.

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