Jet2 executive chairman Philip Meeson has announced that he is to step down from the board.
The Yorkshire businessman bought the business in 1983, when it was a small cargo airline and distribution company serving the Channel Islands.
The company listed in November 1988 and has since become one of the UK’s leading leisure travel businesses.
More: Jet2 reports full-year profit as it hails resilience of package holidays
Meeson will move to non-executive chair during the course of this year and remain in that role until a successor is appointed.
Jet2 said Meeson has devolved most of his executive responsibilities to the company’s senior management team over recent years, led by Steve Heapy, chief executive, and Gary Brown, group chief financial officer.
Meeson said: “I am extremely proud of the business I and colleagues have developed over the past 40 years and have huge respect for the newly enlarged board and the outstanding management team that over recent years has built up Jet2holidays to become the largest package holiday provider in the UK, together with Jet2.com, the UK’s third largest airline.
“Jet2holidays is a well trusted UK leisure travel brand with a great in-house airline.
“I therefore remain confident in the outlook for the group, but I am conscious of my age and the need to plan an orderly succession. I remain committed to Jet2 and will support my successor and the management in any way I can.”
More: Jet2 reports full-year profit as it hails resilience of package holidays