EasyJet CEO takes pay cut in equal pay commitment

Johan Lundgren is a 30-year travel industry veteran and former deputy CEO of TUI. Pic easyJet

EasyJet's (LON:EZJ) new chief executive Johan Lundgren has asked for a pay cut to match the salary of his predecessor Carolyn McCall, the low-priced carrier has said.

Lundgren said that easyJet was "absolutely committed" to giving equal pay and opportunity to men and women, adding that he asked the board to reduce his salary.

Johan Lundgren became the budget airline's chief executive on 1 December, starting with a salary of £740,000. A new male CEO being offered 5% more money than what a female CEO made during her eight-year tenure does not signal promising company values around pay equity, but by having its new CEO take a pay cut, easyJet is signaling that it has heard the criticism and it is ready to change.

In November, EasyJet revealed it had gender pay gap of 52 percent although it said it pays men and women the same amount for the same work. EasyJet has already gone beyond or airlines in trying to attract more women pilots in aviation world. In all other respects his remuneration package is identical to his predecessor.

In an era when a daily scan of the news can cause a spike in any woman's blood pressure - and for that matter, in any thinking person's blood pressure - here's a bit of encouraging news on the pay equality front.

McCall joined British broadcaster ITV (ITVPY) as CEO at the start of 2018, earning a base annual salary of £900,000 ($1.3 million). Previous year it recruited 49 female pilots.

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

"This is a great achievement given the deep seated view in society that being a pilot is a male job and means the airline is on track to meet our 2020 target", EasyJet said.

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.

Related News:

  • " "Reiterates "$184.00" Price Target for McDonald's (MCD)

    Zacks Equity Research is professional-grade research that combines insight provided by equity analysts with quantitative models. In the fourth quarter, global comp sales increased 5.5 percent with positive guest counts in all segments, a news release said.
    Is the monetary policy debate over — Economic Survey

    Is the monetary policy debate over — Economic Survey

    FTAs on e-Tourist Visa grew by 143 per cent to 10.8 lakh in 2016, and further grew by 57.2 per cent to 17.0 lakh during 2017. He added that there is a need to see why the Indian economy de-coupled from the rest of the economy over 3-4 quarters.
    Texas Rangers probe facility the place Larry Nassar handled athletes

    Texas Rangers probe facility the place Larry Nassar handled athletes

    Governor of Texas Greg Abbott on Tuesday ordered investigation into sexual assault allegations at a gymnastic facility in the state.
  • Grammys: Bruno Mars stars; ratings dip

    Grammys: Bruno Mars stars; ratings dip

    Mars previously won Record of the Year two years ago as the featured artist on Mark Ronson's equally giddy "Uptown Funk". He beat out the global sensation " Despacito " as well as songs by rappers Jay-Z, Kendrick Lamar and Childish Gambino .
    Pfizer, Inc. (NASDAQ:PFE) To Release Earnings

    Pfizer, Inc. (NASDAQ:PFE) To Release Earnings

    Mitsubishi Ufj Trust & has invested 0.03% in Sensata Technologies Holding N.V. (NYSE:ST). (NYSE: PFE ) for 3.00 million shares. Barnett And Comm Inc holds 0.04% in Pfizer Inc . ( PFE ) traded down $1.01 during trading on Tuesday, hitting $38.01.
    BBC to propose new pay framework for presenters following gender pay row

    BBC to propose new pay framework for presenters following gender pay row

    Although the disparity in the news department was not as great, three news presenters earned over £500,000 and all three were men. Ahead of Tuesday's report , BBC Women submitted evidence to a parliamentary committee looking into issues of pay and equality.
  • Jaguar's I-Pace set to debut in Geneva in March

    Jaguar's I-Pace set to debut in Geneva in March

    No word on pricing at this stage, but we should find out all the spec and performance details ahead of the Geneva Motor Show . This is not at fast as the Tesla Supercharger but will still offer a decent option for Jag drivers on the go.
    Budget session: President Kovind hopes for passage of triple talaq bill

    Budget session: President Kovind hopes for passage of triple talaq bill

    Kovind said his government was committed to connect all villages with roads and was making efforts to double farm income by 2022. In addition, under the "National AYUSH Mission", traditional methods of treatment, such as Yoga and Ayurveda are being promoted.
    Floodwaters hit peak in Paris

    Floodwaters hit peak in Paris

    Flooding in Paris swelled the Seine river to almost 20 feet on Monday - a level substantially higher than its normal water line. Several more communities downstream west of Paris , toward Normandy and the English Channel , are also now under threat.
  • Yemen Separatists Seize Southern Military Base

    Yemen Separatists Seize Southern Military Base

    The fighting, which has involved tanks and heavy artillery, began in the eastern Khor Maksar district, where the airport located. Yemen's presidency on Monday condemned recent developments in southern Aden province, describing them as "tantamount to a coup".
    Jose Mourinho: Zlatan Ibrahimovic can leave Manchester United

    Jose Mourinho: Zlatan Ibrahimovic can leave Manchester United

    But is he the right person to lead Manchester United? He should start his first Premier League game in United jersey. As he was for our last visit to Wembley 11 months ago, Andre Marriner will be in the middle for Wednesday's game .
    Where can a student draw inspiration from?

    Where can a student draw inspiration from?

    Travel the right way If you have a few hours of rest, it’s better to have a walk than to sit in front of TV or your phone. Plan your actions the right way If you feel no desire to do anything, it’s time to plan your day or even the whole week.


Most liked

'Salute to Prince' draws crowds to Super Bowl Live
Should the Eagles beat the Patriots on Sunday in Super Bowl LII , Long said he would not accept an invitation to the White House. He can etch his name into the history books with a victory as one of the more unlikely quarterbacks to win a title.

Crude Oil Slides On Rebounding Dollar
West Texas Intermediate (WTI) crude futures were at $66.34 a barrel up 20 cents, or 0.3 percent, from their last settlement. The global benchmark crude traded at a premium of $4.11 to WTI, after reaching the smallest premium since August on Monday.

Quiksilver surfwear boss missing at sea off French coast
Rough seas are reported in the area by forecasters, although the wind is relatively light and visibility is clear. Quiksilver , which was founded in Australia, makes clothing for surfers and surfing aficionados.

'Super Blue Blood Moon' triple threat occurs pre-dawn Wednesday
It might be 19 years before we get to see the next one because as of right now, Wednesday morning is expected to be a cloudy one. What is a super blue blood moon? It's full and blue as well, which is when two full moons happen in the same calendar month.