Medical

Luton based Easyjet's chief executive named as the new head of ITV

Luton based Easyjet's chief executive named as the new head of ITV

EasyJet boss Carolyn McCall has been named as the new chief executive of ITV.

She replaces Adam Crozier, who announced in May that he would be leaving the broadcaster after seven years as chief executive.

Carolyn McCall said: "I'm really pleased to be joining ITV".

"I will always miss Easyjet and most of all I will miss Easyjet's people whose Orange Spirit helps them do their best to make travel easy and affordable for their customers every day", said McCall.

Analysts at Citi said it was a "good and exciting" appointment, saying her track record was very strong, delivering a total shareholder return of 312 per cent during her tenure at the airline, outperforming the United Kingdom market.

EasyJet's chairman, John Barton, said she had "transformed" the business during her tenure: "She put easyJet's passengers and people at the heart of the business". She will also be eligible for an annual bonus of up to 180% of her salary, or £1.62 million ($2.1 million), and to participate in a long-term incentive plan worth up to 265% of salary.

She then joined The Guardian as a research planner in 1986 and rose through the ranks to become CEO in 2006. "EasyJet is a structural victor in a brilliant position, and I look forward to being a loyal customer in the years to come".

It said the search for McCall's successor had started.

But McCall won't have it much easier at ITV, which is contending with a weak advertising market as business confidence takes a hit from Brexit uncertainty.

Liberum repeated a "buy" rating and target price of 175p, saying the appointment of McCall is likely to be taken positively given her success at Easyjet.

The airline said last week it would establish a new airline in Austria to protect its flying rights in the European union once Britain leaves the bloc. EasyJet Europe would be headquartered in Vienna.

McCall has been a non-executive director of Burberry since 2014.


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