EasyJet head Carolyn McCall joins ITV as chief executive officer

EasyJet head Carolyn McCall joins ITV as chief executive officer

EasyJet head Carolyn McCall joins ITV as chief executive officer

Broadcaster ITV climbed 3 percent as it appointed the boss of EasyJet, Carolyn McCall, as its new chief executive.

For the past seven years McCall (below) has been running easyJet - where she's done pretty well although easyJet is now suffering badly from the sinking pound (which sends up its fuel costs) and a slowdown in United Kingdom consumer spending - but she's best known in media land for her spell as CEO of Guardian Media Group, which looked as though it was on the brink of finally escaping endless losses.

ITV says she will earn £900,000 a year. "After seven years, the opportunity from ITV felt like the right one to take".

In July 2017, McCall was confirmed as the new chief executive for ITV, another FTSE 100 listed company.

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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.

While McCall lacks production experience, ITV, which makes "Coronation Street" and "I'm a Celebrity".

EasyJet said McCall and her team had transformed the low-priced carrier, improving its operations and growing passenger numbers, resulting in a trebling of the share price and the payment of 1.2 billion pounds in dividends.

'I'm really pleased to be joining ITV. "She will also be able to participate in the company's existing annual bonus plan up to a maximum of 180 percent of salary, and the long-term incentive plan up to 265 percent of salary", the company said.

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McCall will join a company that has less revenue than EasyJet yet is more highly valued in the stock market.

"She put Easyjet's passengers and people at the heart of the business".

Bloomberg quoted Daniel Roeska and Caius Slater, analysts for Sanford C. Bernstein, as saying in a note yesterday that easyJet's next CEO must "increase focus on cost management and possible restructuring".

The airline said it had begun the search for her successor, who will take over at a crucial time for the industry ahead of Brexit.

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"We think bringing in an external candidate, given the required qualifications, with fewer ties to the organisation and a fresh view, may be beneficial for shareholders", they pointed out.

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