David Lenigas has stepped down as executive chairman of Fastjet with immediate effect.
The African low-cost airline is now searching for a non-executive chairman to replace Lenigas. In the meantime, chief executive Ed Winter will serve as interim chairman.
Lenigas says he decided to step down ahead of the takeover of Fastjet's majority shareholder Lonrho by Swiss-based consortium FS Africa. "People forget that I did Fastjet for £1 a year," tweeted Lenigas, adding that he will now focus on Leni Gas & Oil and investment company AfriAG, in which he has "big stakes".
Fastjet expects the FS Africa takeover of Lonrho to happen "in the coming weeks".