ITV has appointed the boss of EasyJet, Carolyn McCall, as its new chief executive.Ms McCall, who has been at EasyJet for seven years, will take over the running of the commercial broadcaster early next year. ITV’s previous chief executive, Adam Crozier, left in June.She will be paid an annual salary of £900,000, plus pension and possible bonus and incentives.Before running EasyJet, Ms McCall was chief executive at the Guardian. She also is a non-executive director at fashion company Burberry, sits on the board of the Department for Business, Energy and Industrial Strategy and is a trustee at the Royal Academy.Ms McCall said the decision to leave EasyJet had been “really difficult”, but after seven years at the company the time was right for a move: “The opportunity from ITV felt like the right one to take. It is a fantastic company in a dynamic and stimulating sector.”
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ITV chairman Peter Bazalgette said: “In a very impressive field of high calibre candidates, Carolyn stood out for her track record in media, experience of an international operation, clear strategic acumen and strong record of delivering value to shareholders. I’m delighted we’ll be working together at ITV.”John Barton, EasyJet chairman, said: “I speak for absolutely everyone at EasyJet in saying we will be sorry to see Carolyn leave and that we wish her well in her exciting new role.”Her bonus plan on joining ITV will be up to a maximum of 180% of salary, and there will be a long-term incentive plan up to 265% of salary.ITV described it as “broadly the same remuneration opportunity” to Mr Crozier’s.
The broadcaster’s shares were the top riser on the FTSE 100 in early trading, jumping almost 3% to 180p. Analysts at Liberum said it was a positive appointment, noting that she had been credited with transforming EasyJet’s fortunes over the past seven years. “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’,” Liberum said. “She also has very good links on the government side, which should be very helpful in areas such as retransmission revenues for ITV.”