LONDON--easyJet PLC ( EZJ.LN) said Michael Rake is stepping down as chairman of the low-cost airline later this year.

It is understood his decision to stand down in the summer was primarily influenced by the company's potential move back into the FTSE 100, where he has other FTSE board positions. As well as his role at the airline, Mr. Rake is chairman of telecoms group BT Group PLC (BT.A.LN ) and deputy chairman of Barclays PLC (BARC.LN).