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

ITV plc (LON:ITV) shares rose as it poached the chief executive of easyJet plc (LON:EZJ) to lead the United Kingdom broadcast company.

McCall, who takes over from previous incumbent Adam Crozier, who left in June, seven years after taking over the reins at ITV, is stepping down as CEO of low-priced airline easyJet to take up her new role.

When Carolyn McCall left the media world for the airline industry seven years ago, newspaper publishers were under siege from a shift online that sucked away advertising revenue.

Ms McCall will replace outgoing chief executive Adam Crozier next year, commencing her position from 8 January 2018.

McCall is the former chief executive of Guardian Media Group so she has experience in heading a major media business and a FTSE 100 company, which gave her leg up over other candidates. "I'm delighted we'll be working together at ITV", said chairman Peter Bazalgette.

Shares in ITV increased 3.09% to 180.40p in morning trading.

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As CEO, McCall will receive an annual salary of £900,000 (US$1.2m) and a pension allowance of 15% of her salary.

McCall was said to have been chosen as the preferred candidate for the ITV top job at the end of last month, but reports have said that disagreements about her salary package had slowed things down.

Luton-based easyjet said in a statement that Ms McCall is expected to leave the company around the end of the year and that a search for her successor had already started. Easyjet announced yesterday it will establish a new airline in Vienna, Easyjet Europe, to ensure it can continue to operate after Brexit.

McCall will join ITV, the maker of soap opera Coronation Street and reality show Love Island, at a time when advertising is coming under pressure from intense competition from internet services and weaker consumer markets.

At EasyJet, McCall has shifted away from a bargain-basement model and focused on attracting family groups, more affluent couples and price-conscious business travelers. "She is seen as being very good with people, at building a strong management team around her and at the ability to 'work the room.' She also has very good links on the government side, which should be very helpful in areas, such as retransmission revenues for ITV".

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