Fastjet promotes seconded deputy to finance chief

Low-cost carrier Fastjet appointed Kris Jaganah to its board on Friday, tasking the former Stripes Aero director with the responsibilities of chief financial officer.

Jaganah, who has acted as Fastjet's deputy CFO since October 2018, will replace outgoing finance boss Michael Muller, remained in his until the end of March to ensure a smooth transition.

Bridgewater Administration, an accounting and administration services firm, seconded Jaganah to Fastjet for an initial secondment of three years, with the aim of utilising his strong IT and systems focus, together with his aviation experience, in order to drive enhancements in systems, reporting and data automation.

Chairman Rashid Wally said: "I am delighted to welcome Kris into his new role. The range and depth of experience and expertise he brings will prove valuable as the Company moves forward through 2019 and beyond."

Chief executive officer Nico Bezuidenhout added: "I would also like to personally thank Michael for his significant contribution and dedication to the Fastjet Board and senior management team. He leaves with our best wishes for the future."

As of 0845 BST, Fastjet shares had slid 5.26% to 1.35p.