Economy

ITV confirms Carolyn McCall as new chief exec

ITV confirms Carolyn McCall as new chief exec

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.

McCall said it was a hard decision to leave easyJet, but after seven years the opportunity from ITV felt like the right one to take.

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

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 percent during her tenure at the airline, outperforming the United Kingdom market. "I'm delighted we'll be working together at ITV", said chairman Peter Bazalgette.

McCall, who was chief executive at newspaper publisher Guardian Media Group before taking the helm at easyJet in 2010, will start at ITV on January 8, 2018, the company said.

EasyJet says it has begun a recruitment process for a successor, and that it "expects to select from a strong range of candidates". "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". Like ITV, the airline is a FTSE 100 company, and McCall is one of a handful of female CEOs among these elite firms.

ITV's Ian Griffiths moved to a newly created combined role of chief operating officer alongside his previous position as group finance director following confirmation Crozier was leaving ITV in May. The existing annual bonus of up to 180% of salary will remain the same.

In March 2010, McCall was made CEO of Easyjet and was appointed DBE in the 2016 New Year Honours for services to the aviation industry.

"ITV's overall performance and the shape of the United Kingdom advertising market are very much as we anticipated and our guidance for the full year remains unchanged", said outgoing CEO Adam Crozier.

He added she has left Easyjet "well set for future success", with the share price trebling and the payment of £1.2bn in dividends to shareholders during her time.

McCall has been a non-executive director of Burberry since 2014. Carolyn has also held non-executive director roles with Lloyds TSB (2008 - 2009), Tesco (2005 - 2008) and New Look (1999 - 2005).