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

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

The new, male C.E.O. for EasyJet, Johan Lundgren, announced today that he voluntarily took a pay cut so that his compensation is more appropriately in line with that of his predecessor, a woman, according to a report in Travel + Leisure. He will now reduce it to match the £706,000 earned by Carolyn McCall when she left easyJet.

"We at EasyJet are absolutely committed to providing equal pay and opportunities for men and women", said Lundgren.

Johan Lundgren became the budget airline's chief executive on 1 December, starting with a salary of £740,000.

So let's call this an important start - both in message and in action - aimed at keeping the critical conversation going. In all other respects his remuneration package is identical to his predecessor.

The gender pay gap in EasyJet is now 51.7%, but the budget airline says this is not because of unequal pay for women.

The airline has a 2020/20 target where 20 percent of new pilots will be women by 2020, up from 6 percent in 2015.

The overall gender pay gap at easyJet is 51.7%. EasyJet has already gone further than other airlines in trying to attract more women into a career as a pilot.

EasyJet said its average male salary was nearly 52% higher than the average female salary - largely because there are so few female pilots.

This gender imbalance is an issue for the whole aviation industry.

Only 4% of commercial pilots worldwide are female.

"We recognize we need to do better", the company said in a statement.

Last year, the business recruited 49 female new entrant co-pilots, a 48 per cent increase on the previous year and takes the proportion of easyJet new entrant female pilots to 13 per cent. This is because 94 per cent of pilots are male, a gender imbalance it has attributed to a "deep-seated view in society that being a pilot is a male job". The company recognizes that re is still room for improvement, and objective is that, for 2020, 20% of new pilots are women.

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