EasyJet boss Carolyn McCall named new ITV chief executive

Carolyn Mc Call | Anthony Harvey  Getty Images for Advertising Week Europe

EasyJet has announced that its Chief Executive, Carolyn McCall, is to leave the airline to take up the same role at United Kingdom television network ITV.

McCall worked for newspaper publisher Guardian Media Group before taking the helm at easyJet in 2010.

Carolyn McCall, who emerged as frontrunner to replace outgoing CEO Adam Crozier earlier this month, will take up the role on January 8 next year.

He added: "I'm delighted we'll be working together at ITV".

ITV said McCall's total remuneration would be "broadly the same" as that of Crozier.

ITV's revenue is falling post-Brexit (eight to nine per cent this year or thereabouts) and, on the face of it, the company has done as much as it can to smooth out advertising peaks and troughs by investing heavily - some would say too heavily - in buying independent producers.

ITV says she will earn £900,000 a year.

"We also think her experience within media (at the Guardian) is a key positive", they said. The budget airline assured investors that the search for her successor had "already commenced and the company expects to select from a strong range of candidates".

ITV, which has been battling a slowdown in advertising as well as takeover speculations, said that she will also be able to "participate in the company's existing annual bonus plan" under which she will be eligible for up to a maximum of 180 per cent of salary.

Arresting a recent decline in ad sales, improving the quality of ITV's online video offering and warding off the challenge from worldwide streaming services like Netflix will be McCall's top priorities, and a "monumental" task, said Neil Campling, an analyst at Northern Trust Capital Markets in London. "easyJet's innovative approach has driven both passenger loyalty and growth and delivered sustained success for easyJet's shareholders". "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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