easyJet plc said it has appointed former Royal Bank of Scotland CEO Stephen Hester as a director and chair designate.

Hester, 60, will join the easyJet board as a non-executive director on September 1, 2021, and will succeed John Barton as the company’s chair on December 1, 2021.

easyJet said Hester’s “all-inclusive annual fee on appointment as chair” will be £314,568.

Hester led the restructuring of Royal Bank of Scotland, now called NatWest Group, between 2008 and 2013 following its near collapse.

“Stephen Hester is a highly strategic and successful leader with more than 35 years of wide-ranging experience at major businesses, bringing a strong track record of value creation and listed board experience,” said easyJet.

“Stephen has served as chief executive of RSA Insurance Group plc from February 2014 to May 2021, as chief executive of Royal Bank of Scotland Group, chief executive of British Land plc and chief operating officer of Abbey National plc, 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 plc having previously held a senior non-executive position as deputy chairman of Northern Rock.”

Hester said: “As a long-standing admirer of easyJet, and from my own experience as a customer, I am very excited to be joining the airline and look forward to playing my part in driving its continued success.

“I see so many opportunities for this iconic brand in the coming years, all underpinned by its proven business model, unrivalled network and loyal customer base.

“I am convinced we can be winners in the European airline industry of the future, serving customers well and driving attractive shareholder value. I can’t wait to join the easyJet team. “